Jun. 25, 2021 8:45 AM ET
By: Brandy Betz, SA News Editor7 Comments
With an improved 5G spending backdrop, Goldman Sachs upgrades Nokia (NYSE:NOK) to Buy
Analyst Alexander Duval notes that Nokia has underperformed rival Ericsson by about 75% over the past three years and European tech by 67% due to "lagging wireless equipment product quality, share losses and negative EPS revisions."
The firm now sees wireless product progress and share gain potential.
Duval raises Nokia's ADR price target from $4.90 to $6.50.
Nokia ADRs are up 2.5% pre-market to $5.27.
Recent news: Nokia launches the next-generation AirScale 5G portfolio
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