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Nokia +2.6% as BofA raises price target on 5G, Chinese tension

Published 12/11/2018, 09:29 AM
© Reuters.  Nokia +2.6% as BofA raises price target on 5G, Chinese tension
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  • Nokia (NYSE:NOK) is up 2.6% premarket after BofA Merrill Lynch boosts its price target and adds it to the Europe 1 list.
  • The firm increased its target to €6 from €5.50, now implying 17% upside. Shares are up 3.8% in Helsinki.
  • Analysts see a spending uptick for 5G along with new IP Routing products, and some incremental benefit to be obtained from the higher scrutiny on Chinese equipment makers like Huawei and ZTE (HK:0763).
  • Now read: TSMC and UMC report revenue drops in November


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