Nokia price target raised to $6.50 from $6 at Northland

Northland raised the firm’s price target on Nokia (NOK) to $6.50 from $6 and keeps an Outperform rating on the shares following what the firm calls “an upbeat Network Infrastructure progress update,” which featured a five year exclusive fiber access extension with AT&T (T) among several new wins in access and advanced trials with Cloud providers in data center. Press reports last week on strategic interest in Nokia’s Mobile Networks unit from Samsung in the $10B range support the firm’s sum-of-the-parts thesis given its view that zero value for the unit is priced into the shares currently, the analyst added.