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Nokia Oyj ADR NOK

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Nokia Expected to Raise 2021 Guidance in Q2 Announcement; Raising FVE to EUR 4.60

Mark Cash Senior Equity Analyst

Analyst Note

| Mark Cash |

No-moat Nokia announced that it expects to raise 2021 guidance after continued strength in the second quarter. The announcement did not include new targets but said that Nokia has executed good cost control in the first half of 2021 and that a few end markets have provided strength. However, we still expect headwinds in the second half of the year. With higher expectations for revenue and operating margin expansion, we are raising our fair value estimate to EUR 4.60 from EUR 4 (U.S. ADRs increase to $5.40 from $4.80) and view shares as fairly valued.

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Company Profile

Business Description

Nokia is a leading vendor in the telecommunications equipment industry. The company's network business derives revenue from selling wireless and fixed-line hardware, software, and services. Nokia's technology segment licenses its patent portfolio to handset manufacturers and makes royalties from Nokia-branded cellphones. The company, headquartered in Espoo, Finland, operates on a global scale, with most of its revenue from communication service providers.

Contact
Karakaari 7
Espoo, FI-02610, Finland
T +358 104488000
Sector Technology
Industry Communication Equipment
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 90,000

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