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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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