Bank of America Raises Nokia Price Target to $18.50, Implies 90% Upside on AI Orders

NOK-5.44%
According to Bank of America, the firm raised its price target on Nokia to $18.50 from $18, implying a 90% upside to the stock's last closing price after Q2 earnings. Nokia secured approximately €2.8 billion ($3.19 billion) in AI-related order intake during the quarter, substantially exceeding analyst expectations. The bank expects strong long-term demand for AI infrastructure will drive revenue growth, though manufacturing capacity constraints may delay order deliveries into 2027-2028.
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