While maintaining its 'neutral' opinion on Nokia, Oddo BHF raises its price target from three to 3.5 euros, judging the acquisition of Infinera and the sale of Alcatel Submarine Network to be positive, as they strengthen the company's product portfolio.

'These operations are consistent with Nokia's six strategic pillars, announced at the CMD in December 2023, when the group indicated its intention to actively manage its portfolio', notes the analyst, who also considers the stock to be cheap.

The absence of a recovery in the mobile networks market, as well as a certain caution regarding Nokia's ability to generate the promised synergies (mediocre track record at Alcatel Lucent), leads us to remain cautious", he adds.

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