Report
Stephane Houri

Nokia : ‘Big reset’ plus violent que prévu + ‘quoi qu’il en coûte’ pour jouer un rôle dans la 5G = -20%

>Un big reset plus violent qu’anticipé, mais nous décidons de conserver notre opinion Achat, laissant le bénéfice du doute au management - Hier, Nokia a publié des résultats T3 20 globalement en ligne (malgré un CA plus faible qu’attendu), mais a surtout 1/ averti sur 2020, 2/ donné une guidance de marge 2021 largement inférieure aux attentes (7/10% vs un consensus à 10,6%) et 3/ a retiré ses objectifs 3/5 ans de MOP comprise entre 12 et 14%. En attendant de préciser ...
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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