Nokia Shares Offer Limited Further Upside

Dow Jones

07/24

1103 GMT - Nokia shares are up around 65% year-to-date on artificial intelligence-driven optimism, and while AI demand should continue to support growth, much of the upside is priced in, UBS analyst Francois-Xavier Bouvignies writes. Second-quarter AI and cloud revenue more than doubled on year, while order intake reached 2.8 billion euros, which is equivalent to the prior three quarters combined. UBS expects the strong demand to persist, supporting optical network and IP network revenue growth of around 20% in 2027 versus high-teens growth in 2026. "However, margin expansion is likely to be constrained by the investments required to support scaling." UBS lowers its price target on the stock to 9.65 euros from 11 euros and reiterates its neutral rating. Shares fall 1.5% to 8.57 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

July 24, 2026 07:03 ET (11:03 GMT)

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Second-quarter AI and cloud revenue more than doubled on year, while order intake reached 2.8 billion euros, which is equivalent to the prior three quarters combined. UBS expects the strong demand to persist, supporting optical network and IP network revenue growth of around 20% in 2027 versus high-teens growth in 2026. \"However, margin expansion is likely to be constrained by the investments required to support scaling.\" UBS lowers its price target on the stock to 9.65 euros from 11 euros and reiterates its neutral rating. Shares fall 1.5% to 8.57 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  July 24, 2026 07:03 ET (11:03 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nokia Shares Offer Limited Further Upside</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNokia Shares Offer Limited Further Upside\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-07-24 19:03</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1103 GMT - Nokia shares are up around 65% year-to-date on artificial intelligence-driven optimism, and while AI demand should continue to support growth, much of the upside is priced in, UBS analyst Francois-Xavier Bouvignies writes. Second-quarter AI and cloud revenue more than doubled on year, while order intake reached 2.8 billion euros, which is equivalent to the prior three quarters combined. UBS expects the strong demand to persist, supporting optical network and IP network revenue growth of around 20% in 2027 versus high-teens growth in 2026. \"However, margin expansion is likely to be constrained by the investments required to support scaling.\" UBS lowers its price target on the stock to 9.65 euros from 11 euros and reiterates its neutral rating. Shares fall 1.5% to 8.57 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  July 24, 2026 07:03 ET (11:03 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BMPRXR70.SGD","symbol_name":"Neuberger Berman 5G Connectivity A Acc SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2653089685","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653089685","pubTimestamp":1784890980,"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":"1103 GMT - Nokia shares are up around 65% year-to-date on artificial intelligence-driven optimism, and while AI demand should continue to support growth, much of the upside is priced in, UBS analyst Francois-Xavier Bouvignies writes. Second-quarter AI and cloud revenue more than doubled on year, while order intake reached 2.8 billion euros, which is equivalent to the prior three quarters combined. UBS expects the strong demand to persist, supporting optical network and IP network revenue growth of around 20% in 2027 versus high-teens growth in 2026. \"However, margin expansion is likely to be constrained by the investments required to support scaling.\" UBS lowers its price target on the stock to 9.65 euros from 11 euros and reiterates its neutral rating. Shares fall 1.5% to 8.57 euros.  Dow Jones NewswiresJuly 24, 2026 07:03 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","BK4020":"通信设备","BK4547":"WSB热门概念","LNOK":"Defiance Daily Target 2X Long NOK ETF","NOK":"诺基亚"},"translate_title":"诺基亚股价进一步上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LNOK":0.6,"NOK":1.5},"content_text":"1103 GMT - Nokia shares are up around 65% year-to-date on artificial intelligence-driven optimism, and while AI demand should continue to support growth, much of the upside is priced in, UBS analyst Francois-Xavier Bouvignies writes. Second-quarter AI and cloud revenue more than doubled on year, while order intake reached 2.8 billion euros, which is equivalent to the prior three quarters combined. UBS expects the strong demand to persist, supporting optical network and IP network revenue growth of around 20% in 2027 versus high-teens growth in 2026. \"However, margin expansion is likely to be constrained by the investments required to support scaling.\" UBS lowers its price target on the stock to 9.65 euros from 11 euros and reiterates its neutral rating. Shares fall 1.5% to 8.57 euros. 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