Nokia upped to buy after Ericsson results
Mon, February 1, 2021, 8:23 AM
Nokia was upgraded to buy from sell at DNB Markets, which also lifted its price target to 4.80 euros ($5.80) from 4 euros. Analyst Frank Maao said the share price has come down after the retail frenzy last week, the read-across from Ericsson's fourth quarter suggests there is 5G cycle strength in Northeast Asia excluding China, the capital markets day in March could be another catalyst and there could be increasing order momentum from those looking to diversify away from Chinese gear. Nokia shares rose nearly 8% in premarket trade.