Nokia: Credit Suisse upgrades stock

(CercleFinance.com) - On Thursday Credit Suisse upgraded its rating on Nokia shares to "outperform" (from "neutral"), citing the "undervalued" quality of the network equipment maker's product portfolio.


The analyst believes that the Finnish group is better placed than its rival Ericsson to deal with the adverse elements likely to affect the telecoms infrastructure market from 2023 onwards, given the diversity of its businesses and the robustness of its infrastructure activity.

The broker adds that it sees further upside potential should Nokia manage to regain the market share that it has lost in the past in the highly profitable North American radio access network (RAN) segment.

Deeming the stock's risk/reward profile as favourably skewed, the broker has increased its target price for the share from 5.45 euros to 6.31 euros.


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