(News Bulletin 247) – Credit Suisse maintains its ‘outperformance’ rating on Nokia shares, with a slightly reduced price target, going from 5.61 to 5.4 euros.
The analyst said he was lowering his revenue estimate for FY23/24 by 1%, and reducing his expectations for comparable EBIT by 1 to 7%, given the March results and the outlook for FY23.
“We believe that Nokia’s previous market share loss in the North American RAN market and the potential of its NI division puts Nokia in a better position than Ericsson to weather the headwinds in the wireless market.” , nevertheless indicates the analyst in essence.
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