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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Nokia Shares Are Rising Today

NOK Nokia Nokia Oyj NYSE Raymond James
  • Raymond James upgraded Nokia Oyj (NYSE:NOK), citing "improving competitive position" and rebuilding confidence in management.
  • Analyst Simon Leopold upgraded Nokia to Outperform from Market Perform and a $6.50 price target. The price target implies an upside of 35%. 
  • Also Read: Nokia Q4 Sales Miss Consensus As Mobile Networks Decline 16%; Plans Dividend, Share Buyback
  • Nokia has seen an inflection in its business with the recent Buyback back and the "likely" reintroduction of a dividend.
  • "We envision strength in the Fixed Access and Routing segments and potential optionality in Optical and Mobility," Leopold added.
  • Price Action: NOK shares traded higher by 5.61% at $5.08 in the market session on the last check Monday.
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