Nokia (NOK) is trading higher as buying interest followed a fresh analyst upgrade. Argus moved Nokia to Buy from Hold and set a $15 price target, helping trigger a sharp pickup in trading volume and a renewed bid for the shares.

The upgrade lands shortly after Nokia’s April 23, 2026 first-quarter update that emphasized rising demand tied to AI and cloud buildouts, particularly in data-center connectivity needs such as optical transport and IP routing. Investors have been re-pricing telecom equipment names with credible exposure to AI-related infrastructure spending, and Nokia’s guidance narrative has shifted more positively around Network Infrastructure momentum.

Focus is likely to stay on whether Nokia can translate AI-driven order strength into sustained revenue growth and operating-margin expansion through 2026, especially in Optical Networks and IP. Any additional analyst target raises, backlog/order commentary, or large hyperscaler/telecom contract wins could extend the move, while signs of slowing carrier capex or delayed data-center deployments could cool sentiment.