Nokia : Optimistic about 2023 despite the uncertain sectoral backdrop
>Neutral opinion maintained, target price raised to € 4.8 vs € 4.5 - After the release of Q4 2022 results, we are raising our EPS estimates by 1% in 2023 and 2024, as well as our target price to € 4.8 vs € 4.5. Despite the expected slowdown in the global telecom equipment market in 2023, Nokia is still talking of a growing addressable market and the capacity to outperform it. The mix has shifted to emerging countries, especially India (with the large Reliance contract...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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