SEB reiterates Buy on telecoms company Nokia and raises the price target to 12 euros from 11.50 euros.
The bank expects 6 percent organic growth in the third quarter, driven by network infrastructure, which is expected to grow 15 percent. Operating profit is expected to come in at 458 million euros, 3 percent above consensus.
Increased data center investments strengthen the market outlook. Nokia may also raise its long-term forecasts. SEB estimates operating profit of 3.9 billion euros in 2028, above the company’s forecast of 2.7–3.2 billion euros.
