Nokia: New Street Research upgrades its recommendation to buy

(CercleFinance.com) - On Thursday, New Street Research raised its recommendation on Nokia from 'neutral' to 'buy', with a target price of 4.
5 euros.

In a study devoted to the telecom equipment sector, which it believes is bottoming out, the independent research firm points out that the Finnish group's stock is currently trading on an Enterprise Value/Ebitda ratio of 6x, below its historical average of 7x to 8x and those of other network equipment manufacturers (9-13x).

More than just a 'value' opportunity, the research firm expects Nokia to turn around in 2025, not only thanks to the accretive acquisition of Infinera, but also to possible share buybacks.

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