Argus analyst Jim Kelleher upgraded Nokia (NYSE: NOK) from Hold to Buy with a price target of $15.00.

The analyst comments "Upgrading to BUY • Nokia posted 1Q26 non-IRFS EPS that exceeded consensus estimates, although revenue was below consensus. Revenue in local currency and non-IFRS EPS grew year over year, amid AIdriven investments sweeping the networking space. • Nokia is seeing AI-related demand growth primarily in Network Infrastructure and has raised its 2026 revenue growth guidance for this business. The Mobile Networks environment has been stable but could begin to grow to support AI data center traffic. • The acquisition of Infinera Corp. is reducing reliance on the Mobile Networks business. The company 'is tracking above the midpoint' of its non-IFRS operating profit forecast for 2026. • Our target price on BUY-rated NOK is $15. Our long-term rating is also BUY."

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Shares of Nokia closed at $10.46 yesterday.