Northland analyst Tim Savageaux named Nokia a “2024 Top Pick” and reiterates an Outperform rating and $5 price target on the shares. The firm views Nokia “as a top pick in our Comm Tech universe” in 2024 based on factors that include the potential for the value creating break up for which the firm has “long advocated,” solid growth in wireline networking revenue aided by a recovery in Tier 1 fiber and rural broadband spending as well as what it cals “a strong balance sheet and compelling valuation well below sum of parts.”
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