Nokia (NYSE:NOK) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Nokia (NYSE:NOK) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $12.40 price target on the technology company’s stock.

Several other research firms also recently issued reports on NOK. Citigroup restated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Argus raised shares of Nokia to a “hold” rating in a research note on Wednesday, February 11th. Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a research note on Monday, February 2nd. Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group raised shares of Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.91.

Nokia Stock Performance

NYSE:NOK opened at $10.38 on Monday. The firm’s 50-day moving average is $7.99 and its 200-day moving average is $6.86. Nokia has a 52-week low of $4.00 and a 52-week high of $10.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The company has a market cap of $59.62 billion, a price-to-earnings ratio of 79.88, a PEG ratio of 3.28 and a beta of 0.77.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after acquiring an additional 1,450 shares during the last quarter. Xponance LLC raised its stake in shares of Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock valued at $88,000 after acquiring an additional 1,567 shares during the last quarter. Allworth Financial LP raised its stake in shares of Nokia by 7.1% in the third quarter. Allworth Financial LP now owns 24,344 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,609 shares during the last quarter. Truist Financial Corp raised its stake in shares of Nokia by 5.7% in the fourth quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock valued at $197,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Nokia by 16.7% in the third quarter. Xponance Inc. now owns 12,023 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,717 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia News Summary

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Bank of America upgraded Nokia to Buy and lifted its target, citing expanding exposure to optical networking and hyperscaler demand from AI data-center buildouts — the research note is the primary catalyst for today’s rally. BofA upgrades Nokia to Buy on optical and hyperscaler growth; shares rise
• Positive Sentiment: RUCKUS Networks and Nokia announced early-access availability for an integrated Wi‑Fi 7 and fiber optical LAN solution — product tie-ups like this support Nokia’s positioning in enterprise and carrier optical/Wi‑Fi convergence. RUCKUS Networks and Nokia Announce Early Access Availability
• Neutral Sentiment: Media coverage (Fool, Blockonomi, Invezz and others) is amplifying the upgrade narrative and investor interest; that attention can sustain momentum but also raises expectations. Stock Market Today, April 13: Nokia Surges After Bank of America Upgrade
• Negative Sentiment: Report that Nokia plans to cut about 121 jobs in Finland — while cost reductions can help margins, workforce reductions may signal near-term operational disruption or signal restructuring that investors should watch. Nokia set to cut 121 jobs in Finland – report

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.