NOK Stock Recommendation: Why Nokia Deserves A Price Target of $5.30

motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary

  • I reiterate the buy rating I gave Nokia’s stock last May 11. The stock has since risen +20% but I’m highly confident it still has more upside potential.
  • Recent 5G contract wins convinced me that NOK deserves a 1-year price target of $5.30.
  • NOK’s 1-month price return is +17.34%. This is thanks to the new U.S. sanctions against Huawei. Going forward, I expect this stock to have a YTD gain of +30% or more.
  • Analysis of weekly technical indicators and recent moving averages produced a buy endorsement for Nokia’s stock.
  • Cloud computing giants Tencent and Baidu recently chose Nokia as their supplier for optical data center interconnect or DCI networks.

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Nokia Stock Forecast: Nokia Is A Cheap Bet On 5G Revolution

motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary:

  • The COVID-19 pandemic has delayed the onset of the global 5G revolution. We should still bet on companies involved in the 5G infrastructure rollout business.
  • In spite of this pandemic, the 5G infrastructure industry is still growing at an estimated 51.01% CAGR. This niche market is expected to be worth $22.93 billion by 2025.
  • It is therefore judicious to go long on Nokia. Nokia is still the world’s no.2 vendor of telecom equipment products (3G, 4G, and 5G).
  • Nokia’s stock has a one-year price return of -28.11%. NOK is now very affordable to own. It trades at only 0.80x Price/Sales valuation. NOK’s forward P/E is just 11. 44x.
  • I Know First has a slightly bullish one-year outlook for Nokia’s stock. The deteriorating US-China relationship is a long-term tailwind for NOK.

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