Nokia: a broker lowers its target, the stock loses 3%.

Nokia: a broker lowers its target, the stock loses 3%.

(CercleFinance.com) – Nokia shares lost more than 3% in Frankfurt while earlier today Oddo said Nokia’s fourth quarter results were ‘slightly above expectations’ and its guidance for 2021 revenues was ‘below expectations’.

This morning, Oddo therefore reiterated his ‘neutral’ opinion on Nokia’s stock and slightly lowered his price target to 3.8 euros, down from 4 euros previously.

According to the broker, ‘Nokia’s recent ‘irrational’ rise has disconnected the stock from its fundamentals’.

Oddo also estimates that in 2021, ‘Nokia will lose market share and will continue to experience margin pressure due to the R&D investment needed to try to catch up in 5G, while Ericsson will benefit fully from deployments’.

Nokia: a broker lowers its target, the stock loses 3%.
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