Rosenblatt maintained their Buy rating on Nokia’s stock with a price target of $14.00.
The price target implies an upside of 88.4% from the Oct 22 close of $7.43.
Key takeaways from the analyst note
Strong Revenue Growth in Key Segments: Nokia’s Network Infrastructure revenue increased by 17% year-over-year, driven by a 45% rise in IP Networks revenue, showcasing robust demand particularly in AI and Cloud sectors. This substantial growth reflects the company’s competitive positioning and ability to capitalize on emerging technology trends.
Positive Outlook and Order Backlog: Management has raised growth expectations for combined Optical and IP Networks, now anticipating a 25% to 30% growth in 2027. With a strong order backlog and a commitment to invest in working capital, Nokia is well-positioned for sustained growth, reinforcing investor confidence in its future performance.
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