Analysts covering Nokia Oyj have nudged their consensus price target upward, with the figure climbing from €4.49 to €4.53 in the latest assessment. This slight increase comes amid improved optimism about Nokia’s revenue growth prospects and signals a shift in industry sentiment. Stay tuned to learn how you can track these evolving market narratives as they unfold.

Analyst commentary on Nokia Oyj reveals a diverse mix of optimism and caution, as firms reassess their stance on the company’s valuation and growth trajectory following recent results and industry developments.

🐂 Bullish Takeaways

• Raymond James raised its price target on Nokia to $6.50 from $5 while maintaining an Outperform rating. The firm cites Nokia’s strong Q3 results, outperformance versus expectations, and reaffirmed full-year guidance as catalysts for its upgraded target.

• Raymond James also highlights particular strength in Nokia’s Cloud and Network Services, noting that momentum with cloud providers supports their positive outlook.

• Deutsche Bank lifted its price target to EUR 4.75 from EUR 4.25 and keeps a Buy rating, reflecting improved confidence in Nokia’s outlook and execution quality.

• BNP Paribas Exane upgraded Nokia to Outperform from Neutral and initiated a $5 price target. The analyst argues that earlier market pessimism has been excessive and points to Nokia’s pivot toward network infrastructure and potential advantages from leveraging artificial intelligence as key growth drivers.

🐻 Bearish Takeaways

• Citi lowered its price target to EUR 3.90 from EUR 4 and maintains a Sell rating, signaling continued skepticism on Nokia’s near-term upside and valuation.

• Morgan Stanley reduced its price target to EUR 4.20 from EUR 4.50 and keeps an Equal Weight stance. The firm indicates concerns around risks or muted growth prospects.

• JPMorgan also trimmed its price target to EUR 5.15 from EUR 5.60, though it reiterates an Overweight rating. This suggests some longer-term confidence but recognition of recent headwinds.

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• China is curbing its adoption of Nokia equipment in domestic telecom networks due to extended national security reviews. This move places Nokia and Ericsson at a competitive disadvantage compared to local Chinese vendors.

• VodafoneThree has awarded a GBP 2 billion contract jointly to Ericsson and Nokia. As part of this initiative, Nokia will supply Radio Access Network (RAN) technology to 7,000 sites to support a major network expansion effort across the U.S.

• Nokia has been selected by Gulf Bridge International to provide optical networking solutions for building a new high-capacity terrestrial network, which will strengthen connectivity linking Europe, the Middle East, and Asia.

• LightRiver and Nokia are collaborating so that Gigabit Fiber can deploy Nokia technology for rapid network expansion in several major U.S. cities. This aims to deliver high-capacity and low-latency connections for AI data centers and enterprise customers.