Nokia Shares Need More than an Earnings Beat to Move Higher
Dow Jones
Sep 30
0807 GMT - Nokia could report third-quarter sales and EBIT slightly ahead of consensus, but the market needs to see near-term sales upgrades to take the stock up significantly, J.P. Morgan analysts write. The market remains concerned about Nokia's ability to execute strong AI and cloud orders due to component shortages, so supply commentary will be a key focus. If Nokia can raise near-term sales and margin guidance in network infrastructure, it would increase market confidence in order delivery capability. The bank remains very bullish on the stock, and if Nokia can beat earnings expectations, confirm supply and lift guidance, "we believe the upside on the stock could be very strong." It rates Nokia at overweight with an 18 euro price target. Shares fall 0.2% to 9.14 euros.
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