Nokia: Oddo raises target price
(CercleFinance.com) - Oddo BHF reaffirms its "buy" recommendation on the Nokia share, having raised its target price from 4.
6 euros to 5 euros, considering that the group's ability to improve its margins should contribute to a continued reduction of the share's relative to Ericsson.
Following the publication of better-than-expected quarterly results, thanks to a big improvement in its gross margin, accompanied by an increase in Nokia's targets, the analyst has raised his EPS estimates by 15% for 2020 and 2021.
In a difficult context, the group seems to be demonstrating a better ability to control its margins than before, the analyst notes, adding that it could now win market share as a result of Huawei's ban in several countries.
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