Nokia Shares Should Re-Rate if Growth Tracks Guidance -- Market Talk

Dow Jones12-01

1400 GMT - Nokia shares should re-rate if growth and earnings improve in line with guidance, J.P. Morgan analyst Sandeep Deshpande writes. High-growth AI-exposed businesses make up around 30% of the Finnish telecom-equipment provider's revenue and contribute to all of the growth. However, the company's price-to-earnings multiple is closer to Ericsson's, which doesn't have AI-exposed growth. If Nokia can grow earnings in line with guidance for 14% three-year compound annual growth, the stock should re-rate to a high-teen price-to-earnings multiple in the bank's view. That would mean the stock could be a multiyear compounder from current levels, it adds. JPM raises its target price to 6.90 euros from 6.10 euros and retains its overweight rating. Shares rise 0.5% to 5.27 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 01, 2025 09:00 ET (14:00 GMT)

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If Nokia can grow earnings in line with guidance for 14% three-year compound annual growth, the stock should re-rate to a high-teen price-to-earnings multiple in the bank's view. That would mean the stock could be a multiyear compounder from current levels, it adds. <a href=\"https://laohu8.com/S/JPM\">JPM</a> raises its target price to 6.90 euros from 6.10 euros and retains its overweight rating. Shares rise 0.5% to 5.27 euros. 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Morgan analyst Sandeep Deshpande writes. High-growth AI-exposed businesses make up around 30% of the Finnish telecom-equipment provider's revenue and contribute to all of the growth. However, the company's price-to-earnings multiple is closer to Ericsson's, which doesn't have AI-exposed growth. If Nokia can grow earnings in line with guidance for 14% three-year compound annual growth, the stock should re-rate to a high-teen price-to-earnings multiple in the bank's view. That would mean the stock could be a multiyear compounder from current levels, it adds. <a href=\"https://laohu8.com/S/JPM\">JPM</a> raises its target price to 6.90 euros from 6.10 euros and retains its overweight rating. Shares rise 0.5% to 5.27 euros. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 09:00 ET (14:00 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NOK","symbol_name":"诺基亚","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588773617","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588773617","pubTimestamp":1764597600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1400 GMT - Nokia shares should re-rate if growth and earnings improve in line with guidance, J.P. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NOK":"诺基亚","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","BK4020":"通信设备","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4547":"WSB热门概念"},"translate_title":"如果增长遵循指引，诺基亚股价应该重新评级——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NOK":1.5},"content_text":"1400 GMT - Nokia shares should re-rate if growth and earnings improve in line with guidance, J.P. Morgan analyst Sandeep Deshpande writes. High-growth AI-exposed businesses make up around 30% of the Finnish telecom-equipment provider's revenue and contribute to all of the growth. However, the company's price-to-earnings multiple is closer to Ericsson's, which doesn't have AI-exposed growth. If Nokia can grow earnings in line with guidance for 14% three-year compound annual growth, the stock should re-rate to a high-teen price-to-earnings multiple in the bank's view. That would mean the stock could be a multiyear compounder from current levels, it adds. JPM raises its target price to 6.90 euros from 6.10 euros and retains its overweight rating. Shares rise 0.5% to 5.27 euros. 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