Sarah Patel's Avatar
published in Blogs
Jun 25, 2021
Nokia (NOK, $5.47) shares get rating boost at Goldman Sachs

Nokia (NOK, $5.47) shares get rating boost at Goldman Sachs

On Friday, Nokia  shares got a rating upgrade from analysts at Goldman Sachs.

 Analyst Alexander Duval boosted rating on the company’ stock to buy from neutral. Duval also hiked his price target to $6.50 from $4.90. This is the highest target of analysts tracked by Bloomberg.

The analyst cited  a better 5G spending backdrop, wireless product progress and market-share gain from Chinese vendors such as Huawei, especially in Europe, as factors behind the improved outlook.

In March, Nokia announced a five-year deal with AT&T. As part of the deal, Nokia will provide its latest fifth-generation equipment to power 5G on AT&T’s C-Band network.

Related Tickers: NOK