Report
Stephane Houri

Nokia : All eyes now on the CMD on 18 March

>Neutral recommendation maintained, target price cut to € 3.8 vs € 4.0 - Following the publication of Q4 2020 results that came in a shade above forecasts, but with 2021 guidance that was below expectations, we are reiterating our Neutral recommendation, have lowered our forecasts by 3% for 2021 and 6% for 2022 and our target price to € 3.8 vs € 4.0. The recent “irrational” increase of Nokia's share price has disconnected the share from its fundamentals. The significa...
Underlying
Nokia Oyj

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Stephane Houri

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