Nokia: shares continue rally after quarterly results
(CercleFinance.com) - Nokia shares edged up in morning trading on Friday, extending their rally to a second day, after the Finnish telecoms gear maker published better-than-expected results on Thursday.
The stock is currently up 1% at 4.36 euros after jumping by as much as 4% in early morning trading. This follows its leap of over 12% yesterday.
In a report issued on Thursday, Oddo BHF analysts highlighted a "more than satisfactory" quarter for the group, in addition to "more inspiring" guidance for 2020 than for the current year.
This morning, UBS analysts reiterated their "buy" rating on the share, along with a target price of 5.80 euros, which means upside of 34%, after identifying several potential positive near-term catalysts.
Also note that Nokia has said that it would team up with Deutsche Telekom and Hamburg Port Authority in 5G research in industrial environment, with a 8,000-hectare site set to carry out key tests of 5G applications.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The stock is currently up 1% at 4.36 euros after jumping by as much as 4% in early morning trading. This follows its leap of over 12% yesterday.
In a report issued on Thursday, Oddo BHF analysts highlighted a "more than satisfactory" quarter for the group, in addition to "more inspiring" guidance for 2020 than for the current year.
This morning, UBS analysts reiterated their "buy" rating on the share, along with a target price of 5.80 euros, which means upside of 34%, after identifying several potential positive near-term catalysts.
Also note that Nokia has said that it would team up with Deutsche Telekom and Hamburg Port Authority in 5G research in industrial environment, with a 8,000-hectare site set to carry out key tests of 5G applications.
Copyright (c) 2018 CercleFinance.com. All rights reserved.