Nokia : Une publication solide et une guidance qui semble maintenant conservatrice – OC relevé à 4.2 €
>OC relevé à 4.2 € (vs 3.8 €) – Opinion Neutre réitérée - Suite à une publication T1 2021 nettement supérieure aux attentes, nous relevons notre OC à 4.2 € (vs 3.8 €), en relevant nos BPA en moyenne de 14% sur 2021/22. Le titre est certes moins bien valorisé qu’Ericsson (7.5x l’EBITDA 2021e vs 11.3x) mais avec de bien meilleures perspectives pour Ericsson (Surperformance) et moins de points d'interrogation. Nous pensons ainsi que la décote est justifiée et réitérons n...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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