(News Bulletin 247) – UBS confirms its neutral advice on value with a price target of 4.6 E following the announcement of its quarterly results.
The analyst stresses that there is ‘no change in outlook but downside risks in the second half’.
Q1 EBIT adjusted for non-recurring items was 12% below consensus, although guidance for the fiscal year remains unchanged. We expect 2023E EBIT to decline to single digits for the fiscal year,” UBS said.
Nokia confirmed its annual operating margin target of between 11.5% and 14%, based on an expected revenue increase of 2% to 8% at constant exchange rates, i.e. a forecast comprised between 24.6 and 26.2 billion euros.
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