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Nokia: shares still offer opportunity, BarCap says.

(CercleFinance.com) - Barclays Capital maintains an "overweight" rating on Nokia shares, while cutting its target price to 5.
20 euros, following disappointing third-quarter results.

While the stock is currently in choppy waters, it still offers opportunity, with the latest disappointing performance not being irreversible, the broker said.

There are positives too, BarCap adds, citing amongst other things next-generation contracts that are coming in, stable performance in a challenging services business, a return to double-digit margins in IP networks and another strong quarter in patent revenue.

"We expect the balance of performance to shift in favour of these better business lines," Barclays said.

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