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Nokia Stock Rises on Analyst Upgrade Amid AI-Driven Growth Prospects
Nokia Stock Rises on Analyst Upgrade Amid AI-Driven Growth Prospects
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BTCCSquare news:
Nokia's shares surged over 3% on Wednesday after Redburn analyst Jakob Bluestone upgraded the stock to 'buy,' citing the company's strategic positioning in AI infrastructure through its $2.3 billion acquisition of Infinera. The deal, closed in February, enhances Nokia's capabilities in data center and hyperscaler markets, where it currently derives just 5% of revenue—a figure poised for significant growth.
Bluestone's €4.30 price target reflects confidence in Nokia's pivot from its legacy handset dominance to telecom equipment and AI-driven solutions. The upgrade outpaced the broader market's 0.2% gain, signaling renewed institutional interest in the Finnish firm's transformation.
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