Citi analyst Andrew Gardiner double downgraded Nokia to Sell from Buy with a EUR 2.70 price target. Telecom equipment remains the most challenging end market in European tech hardware and 2024 will be another tough year, particularly for Nokia which is losing share in a declining market, the analyst tells investors in a research note. The firm cites continued negative estimate momentum for the double downgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NOK:
- Needham comm infrastructure analyst holds analyst/industry conference call
- Nokia and Windstream Wholesale achieve 800GE service readiness with 800Gb/s long-haul transport on single wavelength
- Nokia (NYSE:NOK) Rises on Long-Term Business Update
- Nokia, Deutsche Telekom deploy multi-vendor Open RAN network in Germany
- Nokia revises 2026 operating margin target ahead of investor event