Nokia Corp.

Nokia is an Internet and communications technology company based in Finland. Co.'s operations are focused on three businesses: network infrastructure software, hardware and services, which Co. offers through Networks; location intelligence, which Co. provides through HERE; and advanced technology development and licensing, which Co. pursues through Technologies. Co. maintains a global presence with operations and Researh & Development facilities located in Europe, North America and Asia, and sales in approximately 130 countries. Co. has an installed base of around 600 customers worldwide and these operators serve over 4 billion subscribers.
  • TickerNOKIA
  • ISINFI0009000681
  • ExchangeNasdaq Nordic Helsinki
  • SectorTechnology Hardware & Equipment
  • CountryFinland
Research Department

INFORME DIARIO 23 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, BANKIA, NEINOR, SANTANDER. EUROPA: NOKIA, SIEMENS. Rebote tímido y heterogéneo en mercados La promesa de nuevos estímulos de J. Powell ante el Congreso si la actividad se sigue deteriorando, junto con un discurso más optimista de varios miembros de la Fed animó cierta recuperación en las bolsas de Europa, aunque las diferencias entre países según el impacto de la pandemia son notables (Alemania +0,6% vs España -0,5%). En EE.UU. las buenas cifras de ventas de viviendas de segunda mano estadounidense en agosto (índice de actividad manufacturer...

Frank Maaø

Nokia (Buy, TP: EUR4.50) - Over-discounted

The market-share shifts in mobile infrastructure over the next five years are likely to be large. We have updated our view on the competitive landscape given recent events and have concluded that Nokia remains undervalued. We reiterate our BUY, but have lowered our target price to EUR4.5 (5.3).

Frank Maaø ...
  • Ole-Andreas Krohn

Northern Lights

Martin Melbye ...
  • Olof Cederholm
  • Peter Kurt Nielsen
  • Rickard Anderkrans

Talking Points -

Plenty of supportive news ahead Unlocking the US market – up to BUY (Hold)

Peter Kurt Nielsen

Nokia - 5G setback in the US

Nokia to miss out on 5G contract with Verizon Forecasts reduced by 10%. TP to EUR 4.50 (EUR 5.0) Risk has increased but valuation upside remains

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global indexes approaching major resistance Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation for continued downward pressure on global equities remains intact. At the same time, we are seeing signs that the worst of the declines may be behind us as global cyclical Sectors show RS improvements while defensive Sectors display early signs of RS deterioration. • Regional/Country Overview. The U.S., Europe, and Japan all remain in downtrends from a price perspective, though major resistance levels a...

Jérôme VINERIER

Short term view - NOKIA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €5.300. Breaking below the support at €4.172 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - NOKIA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 5,300 €. La rupture du support à 4,172 € invaliderait cette tendance.

Jérôme VINERIER

Short term view - NOKIA : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €5.300. Breaking below the support at €4.172 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - NOKIA : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 5,300 €. La rupture du support à 4,172 € invaliderait cette tendance.

Research Department

INFORME DIARIO 23 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, BANKIA, NEINOR, SANTANDER. EUROPA: NOKIA, SIEMENS. Rebote tímido y heterogéneo en mercados La promesa de nuevos estímulos de J. Powell ante el Congreso si la actividad se sigue deteriorando, junto con un discurso más optimista de varios miembros de la Fed animó cierta recuperación en las bolsas de Europa, aunque las diferencias entre países según el impacto de la pandemia son notables (Alemania +0,6% vs España -0,5%). En EE.UU. las buenas cifras de ventas de viviendas de segunda mano estadounidense en agosto (índice de actividad manufacturer...

Frank Maaø

Nokia (Buy, TP: EUR4.50) - Over-discounted

The market-share shifts in mobile infrastructure over the next five years are likely to be large. We have updated our view on the competitive landscape given recent events and have concluded that Nokia remains undervalued. We reiterate our BUY, but have lowered our target price to EUR4.5 (5.3).

Martin Melbye ...
  • Olof Cederholm
  • Peter Kurt Nielsen
  • Rickard Anderkrans

Talking Points -

Plenty of supportive news ahead Unlocking the US market – up to BUY (Hold)

Peter Kurt Nielsen

Nokia - 5G setback in the US

Nokia to miss out on 5G contract with Verizon Forecasts reduced by 10%. TP to EUR 4.50 (EUR 5.0) Risk has increased but valuation upside remains

Research Department

INFORME DIARIO 07 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, CAIXABANK, MÁSMÓVIL, OHL, PRISA, SIEMENS GAMESA. EUROPA: NOKIA. El tecnológico estadounidense cae con fuerza La mala apertura de EE.UU. (en dos sesiones el S&P500 se ha dejado un -5%) arrastró a las bolsas de Europa que habían comenzado la sesión con ganancias. En el Euro STOXX pocos sectores como Bancos y R. Básicos terminaron en verde mientras que Inmobiliario y Tecnología (muy influido por las caídas de las tecnológicas estadounidenses) presentaron las mayores caídas. Por el lado macro, en Alemania los pedidos de fábrica ...

Frank Maaø ...
  • Ole-Andreas Krohn

Northern Lights

Frank Maaø ...
  • Håkon Astrup
  • Ole-Andreas Krohn
  • Paul Harper

Northern Lights

Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/03/2020

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Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/08/2020

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NOKIA with less fundamental stars is reduced to Neutral

NOKIA (FI), a company active in the Telecommunications Equipment industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date July 28, 2020, the closing price was EUR 3.66 and its expected value was estimated at EUR 3.74.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

NOKIA OYJ - Assemblée Générale des actionnaires du 27 mai 2020

L’assemblée générale de Nokia avait été reportée en raison de la pandémie du COVID-19. Il n’y a pas eu de changements au sein des résolutions de la part du Conseil d’administration par rapport à l’assemblée qui était prévue en Avril 2020. Résolutions 9 et 10 : Selon le « Finnish Limited Liabilities Act, Part VI: Section 6(2) », la décharge de responsabilité des administrateurs et du Directeur Général est requise. Cependant, nous avons identifié d'importants problèmes de gouvernance : en effet, la société ne soumet pas aux votes des actionnaires la rémunération ex post des dirigeants (cette an...

Expert Corporate Governance Service (ECGS)

Nokia – AGM 27 May 2020

AGM Covid update: the proposals to the AGM are uniform with the proposals submitted for the AGM convened by the Board of Directors on 2 March 2020 which was cancelled due to the Covid-19 pandemic. The AGM will be held without shareholders. The management of the Company will not attend the Meeting, there will be no addresses by the Board or management at the Meeting and no webcast will be provided. Pre-recorded speeches by the Chair of the Board and the President and CEO will be published on the Company's website on the day of the AGM.   ITEM 16: In view of the recent events relating to Covid...

Pauline Delecourt

Nokia - Assemblée Générale du 27 mai 2020

L’assemblée générale de Nokia avait été reportée en raison de la pandémie du COVID-19. Il n’y a pas eu de changements au sein des résolutions de la part du Conseil d’administration par rapport à l’assemblée qui était prévue en Avril 2020. Résolutions 9 et 10 : Selon le « Finnish Limited Liabilities Act, Part VI: Section 6(2) », la décharge de responsabilité des administrateurs et du Directeur Général est requise. Cependant, nous avons identifié d'importants problèmes de gouvernance : en effet, la société ne soumet pas aux votes des actionnaires la rémunération ex post des dirigeants (cette an...

Expert Corporate Governance Service (ECGS)

Nokia - AGM 21 May 2019

Although Nokia complies with the practices of the Finnish governance code, we believe that a company listed on 2 markets (such as Nokia which is listed in Finland and in France), should comply with best practices in both markets. We also believe that all major European companies should propose to shareholders a vote on executives’ remuneration. Hence, Nokia should have proposed a vote (at least consultative) on its CEO’s remuneration, as well as the individual election of directors. We consider that for the former shareholders of Alcatel Lucent, there is a shameful shift in governance that ca...

Nokia – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Alexander Korda

Analysis: Historic Opportunity to Bring 5G to the United States Via Activism

With no significant domestic 5G vendor, the US is losing to international players like Ericsson (Sweden), Nokia (Finland) and Huawei (China). Therefore, we believe there is a strong case for an activist investor to bring 5G to the US by pursuing a suitor to acquire Nokia, which is available at a discounted valuation. With the right leadership, financial muscle, and US government backing, Nokia will make a formidable competitor and eliminate US concerns over the risk of losing the 5G struggle. The Edge View... As all the major telecom carriers rush toward the deployment of 5G, the much-needed ...

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