Nokia: Crédit Suisse cuts target price
(CercleFinance.com) - Credit Suisse maintains a neutral rating on the Nokia share, while cutting its target price from 4 euros to 3.
65 euros.
The broker has cut its EPS estimates: -3% in 2020 (to 0.23 euro) and -13% in 2021 (to 0.25 euro), in particular to take into account the loss of Verizon-related sales (approximately 1 billion euros).
"5G capex thesis remains on track - slower but longer growth ahead," Crédit Suisse says. The broker expects a market of 63.5 billion dollars in 2022, which is still below the 64.8 billion dollars observed when 4G peaked in 2015.
Crédit Suisse finally estimates Nokia's to post sales of 22 billion euros (-6%) in 2020, followed by 21.8 billion euros (-1%) in 2021.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
65 euros.
The broker has cut its EPS estimates: -3% in 2020 (to 0.23 euro) and -13% in 2021 (to 0.25 euro), in particular to take into account the loss of Verizon-related sales (approximately 1 billion euros).
"5G capex thesis remains on track - slower but longer growth ahead," Crédit Suisse says. The broker expects a market of 63.5 billion dollars in 2022, which is still below the 64.8 billion dollars observed when 4G peaked in 2015.
Crédit Suisse finally estimates Nokia's to post sales of 22 billion euros (-6%) in 2020, followed by 21.8 billion euros (-1%) in 2021.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.