Copyright © 2021. Inderes Oyj. All rights reserved.

We raise our target price for Nokia to EUR 5.8 (previously EUR 5.6) and reiterate our Buy rating. As we stated in our previous report, the sentiment towards Nokia’s share will turn when investors’ attention turns from assessing the steepness of the slide in the network market to cycle recovery. The outlook for the next few years provided by Nokia in its report offered the visibility into future profit development that considerably removes uncertainty. Our view is that this will result in a relief rally for the share as a result of which Nokia’s current undervaluation dissolves.

Show your love by gifting this content to a fellow investor. As a Premium subscriber you can gift Premium-content to a free-user friend. Gift link:

Trade. (Nokia)

Nokia is a Finnish multinational communications, information technology and consumer electronics company, founded in 1865. Nokia's headquarters are in Espoo, in the greater Helsinki metropolitan area. In 2017, Nokia employed approximately 102,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion. Nokia is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange.