Nokia: UBS still says buy after Q4 results

(CercleFinance.com) - UBS reiterates its buy rating on the Nokia stock with a target price of 5.
4 euros after the group's announcement of Q4 2022 results.

"Q4 EBIT adjusted for one offs (Technologies contract and venture fund loss) was roughly in line. Based on FY23 guidance, we expect minor changes to consensus," UBS said.

The company is targeting growth of 2% to 8% in 2023 at constant exchange rates, expecting an operating margin of 11.5% to 14%.

Q4 2022 net profit rose 29% to 929 million euros, while its operating margin increased to 15.5% (vs. 14.2% a year before).


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