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Nokia: Berenberg maintains 'buy' recommendation

(CercleFinance.com) - Berenberg maintains its "buy" recommendation on Nokia, with a target price of 5.
5 euros, saying that the stock's risk/reward ratio is compelling.

The German broker admits that Nokia reported a "weak" first quarter, but points out that the management team is now very optimistic regarding demand, guiding to significant improvements in sales growth and profitability in the second half of the year.

Berenberg also cites a strong pipeline, a broad portfolio and likely upsets to Chinese competitors.

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