Grupo Santander analyst Carlos Trevino downgraded Nokia from Outperform to Underperform with a price target of EUR 6.85, signaling that the recent telecom equipment rally has peaked. Despite strong gains driven by AI and 6G optimism, Nokia's current valuation appears high relative to fundamentals, with a trailing P/E of 64x and earnings expectations not fully supporting the stock price. While Nokia's Q4 2025 results were solid and growth in segments like Optical Networks remains strong, challenges such as declining Mobile Infrastructure sales and near-term earnings pressure suggest limited upside. Investors should note that the risk-reward balance has shifted, making caution advisable at current price levels.
Nokia's stock has surged 140% over the past year, driven by strong momentum in AI and cloud orders, with AI and cloud revenue growing 49% in Q1. The company secured €1 billion in new firm orders and upgraded its 2026 growth guidance for Network Infra...
Nokia has signed an agreement with Taiwan Mobile to expand their 5G partnership by deploying Nokia's AirScale portfolio and AI-driven software to modernize Taiwan Mobile's network. This upgrade aims to enhance network performance, automation, and sus...
