In a research report published Wednesday, BMO Capital analyst Tim Long reiterated a Market Perform rating on shares Nokia Corp (ADR) (NYSE:NOK), with a 12-month price target of $4.00, ahead of the company’s fourth-quarter earnings tomorrow morning. Nokia shares are currently trading at $4.55, up $0.03 or 0.66%.

Long noted, “We are in line with consensus on revenues and €0.02 below on EPS for the December quarter. For Networks, we model revenue growth of 17% in the quarter, significantly better than the low single-digit levels we saw in June and September. For the March quarter, we are slightly above the Street on revenues and in line on EP.”

Furthermore, “Ericsson reported earnings last week, demonstrating a top-line beat in the quarter. Despite the stronger-than-expected results, Ericsson remains cautious on the current operator spending environment. Our Global Infrastructure Model echoes this finding, and we model capex declines of 4% in 2017. We believe challenges will persist throughout the year for Nokia and its competitors.”

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Tim Long has a yearly average return of 7.6% and a 60% success rate. Long has a -38.3% average return when recommending NOK, and is ranked #527 out of 4373 analysts.

Out of the 19 analysts polled in the past 12 months, 10 rate Nokia stock a Buy, 8 rate the stock a Hold and 1 recommends to Sell. With a return potential of 26%, the stock’s consensus target price stands at $5.74.