Nokia : A slower-than-expected recovery
>Neutral rating reiterated, target price cut to € 3.3 from € 3.5 - Following the release of Nokia’s Q2 2024 results, we lower our target price to € 3.3 (vs € 3.5) but maintain Neutral rating. Nokia is still grappling with the fall of the global telecoms equipment market, which is likely to continue to weigh on the Mobile Network division. The timing of a recovery still remains uncertain. Although the order intake, notably for the Mobile Infrastructure division is show...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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