- Nokia Oyj (NYSE:NOK) plans to raise its FY21 financial guidance due to continued strength in its Q2 business.
- It plans to elaborate on the Q2 and half-year financial performance and updated FY21 guidance on July 29, 2021.
- The prior FY21 net sales guidance lay between €20.6 billion and €21.8 billion. The analysts’ consensus for net sales is $25.67 billion.
- Nokia beat both the Q1 revenue and EPS consensus.
- Meanwhile, Nokia said it continues to expect some headwinds in the second half of the year.
- On Monday, Barclays analyst Andrew Gardiner raised the price target on Nokia to EUR 4.50 from EUR 4.25, implying a 3.3% downside, and reiterated an Equal Weight rating.
- Price action: NOK shares traded higher by 7.26% at $5.75 in the premarket session on the last check Tuesday.
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