On April 29, 2026, Arete upgraded Nokia Oyj (NYSE:NOK) to Buy from Neutral with a EUR 10.60 price target. The firm noted the shares have re-rated on exposure to hyperscale data center spending, while AI and cloud accounted for 8% of Q1 sales.<\/p>\n
Argus analyst Jim Kelleher also upgraded Nokia Oyj (NYSE:NOK) to Buy from Hold with a $15 price target following the Q1 report. Jim Kelleher cited AI-driven demand and a higher 2026 revenue growth outlook for the Network Infrastructure segment, adding that Mobile Networks has been stable and could begin to grow with rising AI data center traffic.<\/p>\n
![\"Arete](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/05\/1aed88d4e210d88827a9c662c19337cd.jpeg\")
Arete Upgrades Nokia (NOK) to Buy <\/p>\n
On April 23, 2026, Nokia Oyj (NYSE:NOK) reported Q1 comparable EPS of EUR 0.05 versus EUR 0.03 last year and revenue of EUR 4.5B compared to EUR 4.39B, with comparable net sales up 4%. The company said it delivered a \u201csolid start,\u201d with strong demand in AI & Cloud, where net sales rose 49% and accounted for 8% of group sales, alongside EUR 1B in orders. Network Infrastructure grew 6%, including 20% growth in Optical Networks, while Fixed Networks declined 13% as part of a shift toward higher-margin products. Nokia expects FY26 comparable operating profit of EUR 2B to EUR 2.5B, capital expenditures of EUR 900M to EUR 1B, and a comparable income tax rate of 26% to 27%, with higher capex tied to Optical Networks capacity and real estate projects.<\/p>\n
Nokia Oyj (NYSE:NOK) provides mobile, fixed, and cloud network solutions across global markets.<\/p>\n
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