BUZZ-MS ups Nokia on AI-fuelled demand
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Morgan Stanley has upgraded Nokia (NOKIA.HE) to "overweight" from "equal-weight" due to increasing AI-driven demand, despite AI & Cloud revenues currently making up only 6% of total revenues. The stock rose 1.6% following the announcement. Key factors include Nokia's partnership with NVIDIA and strong demand in optical networking. The brokerage believes Nokia's valuation does not fully reflect its AI pivot and notes favorable geopolitical trends for Western infrastructure suppliers. Among 28 analysts, 16 recommend a "strong buy" or "buy" rating.
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