Nokia : A solid publication and guidance which now appears conservative - Target price raised to € 4.2
>Target price raised to € 4.2 (vs € 3.8) - Neutral recommendation reiterated - Following a Q1 2021 publication that came in well above forecasts, we have raised our target price to € 4.2 (vs € 3.8), with an upward revision to our 2021-2022 EPS forecasts of 14% on average. Granted, the stock has a far lower valuation than Ericsson (7.5x 2021e EBITDA vs 11.3x), but with a brighter outlook for Ericsson (Outperform) and fewer areas of uncertainty. We therefore think that ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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