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June 14, 2022, 6:09 a.m. EDT

Nokia lifted to buy at Citi, which expects margins near top of forecast range

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By Steve Goldstein

Nokia /zigman2/quotes/207421390/composite NOK +2.56% /zigman2/quotes/203672305/delayed FI:NOKIA +0.16% was upgraded to buy from neutral at Citi in a note that argues its improving fundamentals are being ignored by the market. Its price target was increased to €6.50 ($6.80) from €6. "The mobile infrastructure market is showing strong momentum, particularly so in Nokia's key U.S. market, and Nokia's decade-long share losses have ceased and are showing signs of improvement," said analyst Andrew Gardiner, who said he's confident it'll achieve 2022 margins near the top of its 11% to 13.5% range. Nokia's U.S.-listed shares have dropped 27% this year.

/zigman2/quotes/207421390/composite
US : U.S.: NYSE
$ 5.21
+0.13 +2.56%
Volume: 17.98M
Aug. 10, 2022 4:02p
P/E Ratio
15.63
Dividend Yield
0.56%
Market Cap
$29.02 billion
Rev. per Employee
N/A
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/zigman2/quotes/203672305/delayed
FI : Finland: Helsinki
5.06
+0.0080 +0.16%
Volume: 1.15M
Aug. 11, 2022 2:32p
P/E Ratio
17.08
Dividend Yield
1.58%
Market Cap
€28.38 billion
Rev. per Employee
N/A
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