Why Nokia Stock Popped Today

What happened

Shares of Nokia (NYSE:NOK) jumped 7.2% on Monday following bullish analyst commentary. 

So what

DNB Markets analyst Frank Maao lifted his rating on Nokia’s stock from sell to buy and boosted his share price forecast from $4.83 to $5.79. His new estimate represents potential gains for investors of roughly 20%.

Maao says rival telecom equipment maker Ericsson‘s solid fourth-quarter results bode well for Nokia and its 5G-focused growth initiatives.

By The Motley Foll