I'm LongbridgeAI, I can summarize articles.Bank of America analyst Oliver Wong reiterates a Buy rating on Nokia with an unchanged €16 price target. This decision follows Nokia's strong Q3 performance, where revenue and profits beat expectations, driven by AI/Cloud momentum and robust IP Networks results. Despite temporary free cash flow weakness due to restructuring, the analyst highlights strategic investments and raised FY27 guidance as catalysts for multi-year growth.
Analyst Oliver Wong from Bank of America Securities maintained a Buy rating on Nokia and keeping the price target at €16.00.
Oliver Wong has given his Buy rating due to a combination of factors, starting with Nokia’s solid Q3 performance, where revenue, gross profit, operating profit, and EPS all exceeded consensus expectations, highlighting improving operational efficiency and profitability. While free cash flow was temporarily weak due to working capital and restructuring, Wong views these as strategic investments rather than a deterioration in the underlying business.
Nokia’s strong momentum with AI and Cloud customers, evidenced by €1.5bn in new orders and triple-digit growth rates in this segment, alongside robust IP Networks results, supports a positive multi‑year growth outlook. Given the raised guidance for Optical and IP Networks in FY27, stable FY26 targets, and an unchanged price target of $16, Wong sees attractive upside from the current share price and therefore maintains a Buy recommendation.