Nokia's Stock Performance: Nokia Oyj has seen significant stock gains, with a 9.9% increase in a week and 41.4% over the past month, driven by optimism surrounding its expansion into 5G networks and strategic partnerships.
Valuation Analysis: Despite the positive market sentiment, Nokia scores only 2 out of 6 on valuation checks, indicating it may be overvalued by approximately 193.8% based on Discounted Cash Flow (DCF) analysis, which estimates an intrinsic value of €2.00 per share.
Price-to-Earnings Ratio: Nokia's current Price-to-Earnings (PE) ratio is 37.48x, slightly above the industry average, suggesting it is trading just above a level justified by its fundamentals, with a Fair Ratio of 34.93x.
Investment Narratives: Investors are encouraged to develop their own "Narratives" about Nokia's future, which can influence their investment decisions, with varying outlooks on fair value ranging from €3.00 to €5.75 based on different assumptions about the company's growth and risks.
Wall Street analysts forecast NOK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NOK is 7.36 USD with a low forecast of 6.50 USD and a high forecast of 8.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast NOK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NOK is 7.36 USD with a low forecast of 6.50 USD and a high forecast of 8.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 6.500
Low
6.50
Averages
7.36
High
8.50
Current: 6.500
Low
6.50
Averages
7.36
High
8.50
Kepler Cheuvreux
Hold
to
Buy
upgrade
2026-01-07
Reason
Kepler Cheuvreux
Price Target
AI Analysis
2026-01-07
upgrade
Hold
to
Buy
Reason
Kepler Cheuvreux upgraded Nokia to Buy from Hold.
Danske Bank
Sami Sarkamies
Hold
to
Buy
upgrade
$6.50
2025-11-21
Reason
Danske Bank
Sami Sarkamies
Price Target
$6.50
2025-11-21
upgrade
Hold
to
Buy
Reason
Danske Bank analyst Sami Sarkamies upgraded Nokia to Buy from Hold with a EUR 6.50 price target. The firm sees a positive risk/reward into the company's Q4 report on January 29. Nokia offers a "compelling AI-linked equity for years to come," the analyst tells investors in a research note.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for NOK
Unlock Now
SEB Equities
Hold
to
Buy
upgrade
€6
2025-11-20
Reason
SEB Equities
Price Target
€6
2025-11-20
upgrade
Hold
to
Buy
Reason
SEB Equities upgraded Nokia to Buy from Hold with a EUR 6 price target.
Deutsche Bank
NULL -> Buy
upgrade
2025-11-10
Reason
Deutsche Bank
Price Target
2025-11-10
upgrade
NULL -> Buy
Reason
Deutsche Bank raised the firm's price target on Nokia to EUR 6.75 from EUR 4.75 and keeps a Buy rating on the shares.
About NOK
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company's businesses include Nokia Networks and Nokia Technologies. The Company's segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. The Ultra Broadband Networks segment comprises Mobile Networks and Fixed Networks operating segments. The IP Networks and Applications segment comprises IP/Optical Networks and Applications & Analytics operating segments. The Applications & Analytics operating segment offers software solutions spanning customer experience management, network operations and management, communications and collaboration, policy and charging, as well as Cloud, Internet of things (IoT), security, and analytics platforms that enable digital services providers and enterprises to accelerate and optimize their customer experience. The Company has Comptel Oyj among its subsidiaries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
