Nokia : Downward revision to our forecasts and target price cut ahead of the publication, but Buy recommendation reiterated
>Forecasts down and target price cut to € 4.5 (vs € 5), but Buy reiterated - Ahead of the publication of Q3 2020 results on 29 October, we have lowered our forecasts by 15% for 2021 (with 2020 unchanged) We are consequently lowering our target price to € 4.5 from € 5.0. In Q2 2020 the share price reacted very favourable to an operating margin that comfortably beat expectations (see Flash), Nokia has since lost around 20%, primarily due to Samsung’s announcement in Sep...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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