Nokia Boosts Treasury Shares by 2.6M, Analysts See Up to 16% Upside
On February 10, Nokia transferred 2,622,652 shares under its equity-based incentive plans, leaving the company with 139,291,855 treasury shares. J.P. Morgan reiterated an Overweight rating on February 2 and raised its price target from $8.00 to $8.20, while consensus across seven analysts implies a median $7.18 target.
1. Hedge Fund and Analyst Sentiment
Nokia was selected as one of the 11 best communication equipment stocks by hedge funds and shows moderately bullish consensus sentiment. Seven analysts cover the stock with five Buys, one Hold and one Sell, reflecting a median one-year price target of $7.18.
2. Equity-Based Incentive Plan Share Transfer
On February 10, Nokia settled commitments under its equity-based incentive plans by transferring 2,622,652 shares to participants, reducing its holdings to 139,291,855 treasury shares.
3. Analyst Overweight Rating and Revised Price Target
On February 2, an analyst reiterated an Overweight rating on Nokia and increased the price target from $8.00 to $8.20, implying approximately 16% upside potential.
4. Company Profile
Nokia is a Finland-based B2B technology innovation company delivering mobile, fixed and cloud network solutions. Its two primary segments—Network Infrastructure and Mobile Networks—focus on optical, IP, fixed networks, radio, core networking and technology licensing services.