Northland raised the firm’s price target on Nokia (NOK) to $6 from $5 and keeps an Outperform rating on the shares. While acknowledging that carrier networking was “clearly not the driver” of HP Enterprise’s (HPE) $14B acquisition of Juniper (JNPR), the analyst says the bulk of Juniper’s business is selling core and edge IP routers to Cloud and Service Provider customers, where it is the number three supplier behind Cisco (CSCO) and “2024 top pick” Nokia. The firm, which views the valuation read through to Nokia’s $3B IP Routing unit as “compelling,” raised its price target on Nokia shares to $6 from $5 and keeps an Outperform rating on the stock.
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Read More on NOK:
- Nokia named a ‘2024 Top Pick’ at Northland
- Nokia guidance cut ‘widely expected,’ says UBS
- Inside Information: Nokia expects that it will not achieve its 2023 financial outlook as licensing renewal discussions are expected to continue into 2024
- Nokia does not expect to achieve its financial outlook for FY23
- Lumine to acquire Nokia’s Device Management, Service Management Platform units
