Nokia Analysts Cut Their Forecasts Following Q3 Results
Portfolio Pulse from Lisa Levin
Nokia Corp (NYSE:NOK) reported a 20% YoY decline in Q3 FY23 net sales to $5.42 billion, missing the consensus of $6.20 billion. The company reiterated its full-year 2023 net sales of $26.19 billion with a comparable operating margin of 11.5%-13.0%. Following the announcement, analysts from Raymond James and Goldman Sachs lowered their price targets on Nokia. The company's shares fell 0.2% to trade at $3.2050 on Friday.
October 20, 2023 | 6:00 pm
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Nokia's lower than expected Q3 FY23 results led to a decrease in its stock price and a reduction in price targets by analysts from Raymond James and Goldman Sachs.
Nokia's Q3 FY23 results were lower than expected, which negatively impacted its stock price. This also led analysts from Raymond James and Goldman Sachs to lower their price targets on the company, indicating a bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100