Nokia : No prospect of recovery, so Nokia cuts costs (again)
>Neutral rating reiterated, target price cut to € 3.3 vs € 4 - Following the publication of the Q3 2023 results, we lower our EPS estimates by an average of 10% for 2023 and 2024 and cut our target price to € 3.3 vs € 4. The slowdown of the global telecoms equipment market looks set to last longer than expected. Operators’ investment plans are affected by the poor macroeconomic outlook notably in North America where the market is collapsing (between -50% and -60%). Th...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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