Nokia: sets new targets for 2023
(CercleFinance.com) - On Thursday Nokia announced new medium-term targets through to 2023, forecasting higher margins and faster growth than its market.
The Finnish telecoms supplier expects its operating margin will rise to between 10% and 13% in 2023, compared with a forecast of 7% to 10% for FY 2021.
Analysts at Oddo BHF this morning said that this new target can be seen as positive, as the consensus is currently looking for just 10.4% for 2023 (8.5% in 2021).
The broker, which has a "neutral" rating on the stock - nevertheless mentions "rather cautious" forecasts compared to those of its great Swedish rival, Ericsson.
Nokia - which is holding a meeting with investors today - also said it was aiming for "faster than market" revenue growth for FY 2023.
The company has no immediate plans to pay a dividend, but it plans consider a payment for FY 2021 at the end of the year.
The company, which earlier this week said it was considering between 5,000 and 10,000 job cuts in order to reduce costs, also confirmed its intention to halve its CO2 emissions by 2030.
All said, Nokia's share was up around 1% on Thursday morning in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The Finnish telecoms supplier expects its operating margin will rise to between 10% and 13% in 2023, compared with a forecast of 7% to 10% for FY 2021.
Analysts at Oddo BHF this morning said that this new target can be seen as positive, as the consensus is currently looking for just 10.4% for 2023 (8.5% in 2021).
The broker, which has a "neutral" rating on the stock - nevertheless mentions "rather cautious" forecasts compared to those of its great Swedish rival, Ericsson.
Nokia - which is holding a meeting with investors today - also said it was aiming for "faster than market" revenue growth for FY 2023.
The company has no immediate plans to pay a dividend, but it plans consider a payment for FY 2021 at the end of the year.
The company, which earlier this week said it was considering between 5,000 and 10,000 job cuts in order to reduce costs, also confirmed its intention to halve its CO2 emissions by 2030.
All said, Nokia's share was up around 1% on Thursday morning in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.