Northland Securities analyst Tim Savageaux reiterated a Buy rating on Nokia (NOK) today and set a price target of $6.00. The company’s shares closed last Thursday at $3.46.
According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 1.4% and a 49.3% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as CommScope Holding, Lumentum Holdings, and Luna Innovations.
Nokia has an analyst consensus of Moderate Buy, with a price target consensus of $4.74, representing a 47.2% upside. In a report issued on April 6, Kepler Capital also maintained a Buy rating on the stock with a EUR4.20 price target.
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Based on Nokia’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.9 billion and net profit of $564 million. In comparison, last year the company earned revenue of $6.87 billion and had a net profit of $193 million.
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Nokia Oyj provides network infrastructure, technology and software services. It operates through the following segments: Ultra Broadband Networks, Global Services, IP Networks and Applications and Nokia Technologies. The Ultra Broadband Networks segment comprises mobile networks and fixed networks. The Global Services segment provides professional services with multi-vendor capabilities, covering network planning and optimization, systems integration. The IP Networks and Applications segment comprising IP/Optical networks and applications & analytics. The Nokia Technologies segment focuses on advanced technology development and licensing. The company was founded in 1865 and is headquartered in Espoo, Finland.
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