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Nokia Corporation (NOK)
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NOKIA ANALYSIS BY BOFA, SOME COMMENTS. Firstly, about the 5G market peaking. Mobile Wireless boss Tommi Uitto said the following in March on its CMD: "5G and Enterprise are driving growth in Mobile Networks. We are still in early stages of the 5G cycle, which has an extended peak". We see that in 2021 we are still far from the peak which may occur about 2025 to continue close to the peak until 2029.Then we'll likely see 6G starting to be adopted. Even when the total 5G market has peaked the private wireless (where Nokia is market leader) will continue growing when operators are already investing less. Anyway, 5G will not end in 2021 and not even start declining in 2025. Check page 9 for the graphics:
Secondly, BOFA is forgetting Nokia is far from having reached it's highest possible margins in Mobile Wireless. The SoC proportion will hit 100% in 2022 and only be felt fully on a yearly basis in 2023. Nokia's margins are targeted to hit more than 10% just like Ericsson already does.
Thirdly, Nokia is much more than Mobile Wireless which currently is about 45% of Nokia's sales and 25% of its profits and this is when software was loss-maiking in H1 2021. When Nokia gets it's Cloud and Network Services unit performing as it should Nokia's average operating margin will grow.
To conclude, we can also ask why is the BOFA analysis so much more pessimistic than anyone else's. The are basically saying the other analysts are making a big error recommending people to buy Nokia and Ericsson. Taking into account what I wrote above, I see no reason to revise my opinion that Nokia is seriously undervalued both as seen to this year's expected EPS and as to the performance I expect to see in the years to come.
I will stick with JPM analysts:
JPMorgan upgrades Nokia on 'more room to run' for mobile turnaround JPMorgan analyst Sandeep Deshpande last night upgraded Nokia to Overweight from Neutral with a price target of $7.80, up from $4.30. The analyst believes the company's fiscal 2021 guidance increase is "just the start of the upgrade cycle." The turnaround in Nokia's mobile networks gross margin could value the shares between EUR 6 and EUR 8.40, Deshpande tells investors in a research note. The analyst says the mobile network turnaround has "much more room to run.
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Couldn't find anything on the internet regarding today's downgrade of Nokia by BOFA.
3 trading days left until Nokia's Q3 2021 Earnings Release
and BofA said that Nokia price target of EUR 4.33 implies 15% downside
Not good )) I hope earnings are good and CEO optimistic about future!
“Upside risks to our PO are: 1) better than expected cost cutting activities, 2) improved macro and telecom capex environment, 3) significant share gains, 4) longer-than-expected 5G cycle, and 5) potential dividend re-instatement.”
Conclusion yes this is a totally uninformed and rushed report. These analysts at BofA should be fired! This is buying opportunity and I for one will be adding!
To : Research Analyst from BofAS 1 old proverb:
"'Dogs bark, but the caravan keeps on."
wow B of A trying to steal shares.... they are predicting 2025 still 4 years away, rather the fact that most of the contracts signed have just started to contribute to accelerated growth for the next 3 years ...
I guess no one saw this today from Nokia on their LinkedIn page:
"Today we had the honor to sign a Strategic Cooperation Framework Agreement with China Mobile, including, for instance, network infrastructure services in radio, core and transport and home broadband, #6G, cloud and network convergence and #5G enterprise. #China"
why would BOFA downgrade Nokia a few days before earnings when all the news has been positive. Scare tactic.
I've seen it many times before. why not wait until the numbers were released
What is worrisome is not the strange Bank of America report. The worrying thing is why the stock market has bought it. Is there so little intelligence in the Stock Exchanges?
Bought on the open.
The downgrade is BS TO ME. I believe this was a buying opportunity. we will see Thursday.
Over 2,5 million shares in just 25 min and down almost 4 %
something is happening ? We are all price takers ))
I'll stay regardless the news or any manipulations.
Well, I don't listen to fake news, just the facts, so, I for one, just bought 585 shares, and will be even richer now...
this small gap down should be closed VERY soon ))
if not before, surely after the earnings release on Oct. 28
I view today's action as another buying opportunity
everyone remember it's FUNDAMENTALS THAT COUNT, not manipulation. we have to believe Nokia has turned it around and will not let past mistakes ever happen again.
Just read Zack's report on Nokia. Everyone is so careful about not getting out over their skiis. Factually, Zack's outlines all of the incandescent accomplishments of Nokia over the period and at the end gives Nokia a "Hold" rating. No one wants to give Nokia the benefit of even the scintilla of a doubt. Us longs have very little to worry about, facts are stubborn things to ignore. When the numbers come out in a few days, I think that caution will be a great benefit when we exceed, hopefully greatly, but if only modestly, it will still be a nice "Beat". Even Walid (if he wants to be honest about it) will agree that a beat is better than a "Not Quite Reach" where the projections were excessive. (Maybe his ego won't let him admit what we all know for a fact!)
Richard Pzena’s 9 New Stock Picks
October 24, 2021, 5:09 am
9. Nokia Corporation (NYSE:NOK)
Pzena Investment Management’s Stake Value: $86,000
Number of Hedge Fund Holders: 26
Nokia Corporation (NYSE:NOK) is a Finnish multinational company dealing in telecommunications, information technology, and consumer electronics, since its inception in 1865. Nokia Corporation (NYSE:NOK) was the largest mobile phone and smartphone vendor in the world from 1998 to 2002, but suffered in that category afterwards. Nokia Corporation (NYSE:NOK) sold its mobile manufacturing division to Microsoft Corporation (NASDAQ:MSFT) in 2014, and shifted its focus on telecommunications infrastructure, IoT, virtual reality, and digital health via strategic acquisitions. Nokia Corporation (NYSE:NOK) remains a key patent licensor for most big mobile phone vendors to date.
Pzena Investment Management holds an $86,000 stake in Nokia Corporation (NYSE:NOK) as of the end of June, and it is one of the newest stock picks by Richard Pzena.
Arrow Street Capital is the leading stakeholder in Nokia Corporation (NYSE:NOK), with stakes worth $133.1 million. Overall, 26 hedge funds were long Nokia Corporation (NYSE:NOK) at the end of June, up from 21 in the previous quarter.
On October 18, it was announced that Nokia Corporation (NYSE:NOK) will provide the equipment for 5G coverage in Slovenia, to businesses and customers alike from its AirSpace 5G equipment portfolio. Similarly, it was reported on October 14 that Nokia Corporation (NYSE:NOK) would deploy 5G coverage to Japanese companies, SoftBank Group Corp. (OTC:SFTBY) and KDDI, thus enhancing the company’s global footprint.
Nokia Corporation (NYSE:NOK) is a good stock to purchase according to Richard Pzena, much like General Electric Company (NYSE:GE), Exxon Mobil Corporation (NYSE:XOM), Wells Fargo & Company (NYSE:WFC), and Ford Motor Company (NYSE:F).
Very provocative predictions by BOFA right before the earnings))
BOFA should be investigated by SEC !
The "BofA Securities" analyst, Didier Scemama, making this assessment on Nokia has issued a total of 7 ratings on stocks over the last 10 years. The intention of this poorly written hit job was to trigger algos to wipe out weak hands protecting their gains heading into earnings. Never use stop losses as MM's and traders with Level 2 assess can see them and take advantage of you. Volume today remains low. This should be illegal, but because it's not, that's why it's done.
*Last November Bofa downgraded NOK and NOK has risen 76% since then.*
When you're bad at your job but no one cares lol.
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