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Nokia: AlphaValue upgrades stock

( - On Friday AlphaValue upgraded its rating on Nokia shares to "buy" from "add", maintaining its target price of 6.
85 euros.

In a report, the independent broker explains that the Finnish network equipment maker's improved profitability is behind its more optimistic outlook.

It says that the progress made by the group in its cost structure should more than offset the impact of the current inflationary environment.

Despite higher operating expenses, Nokia has managed to improve its competitiveness, thanks to favourable volume and price effects, it summarises.

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