Nokia: Barclays raises target price
(CercleFinance.com) - Barclays said on Thursday that it has raised its target price for Nokia from 3.
3 euros to 3.6 euros following the telecoms component company's investor day last week.
According to the broker, the measures unveiled at the meeting are a step in the right direction, although the Finnish group still has a long way to go.
"We think many of the steps being taken are prudent, both the streamlining in certain areas and reinvestment in others, namely the critical Mobile Access unit," Barclays says.
However, the analyst believes that the execution of the plan may take time to bear fruit, a prospect that leads him to maintain an "equal weight" rating on the stock for the time being.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
3 euros to 3.6 euros following the telecoms component company's investor day last week.
According to the broker, the measures unveiled at the meeting are a step in the right direction, although the Finnish group still has a long way to go.
"We think many of the steps being taken are prudent, both the streamlining in certain areas and reinvestment in others, namely the critical Mobile Access unit," Barclays says.
However, the analyst believes that the execution of the plan may take time to bear fruit, a prospect that leads him to maintain an "equal weight" rating on the stock for the time being.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.