Morgan Stanley and JPMorgan Raise Nokia Price Targets Amid Strong Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Source: stocktwits
- Price Target Increases: Morgan Stanley raised its price target for Nokia's Helsinki-listed shares from €8.50 to €11, while JPMorgan increased its target from €6.90 to €12, with the latter implying a 30% upside from the last close, reflecting analysts' optimistic outlook on Nokia's future performance.
- Strong Demand Driving Growth: Last week, Nokia reported strong demand for its AI networking hardware and raised its 2026 revenue growth outlook for its maintenance networking segment to 12%-14%, significantly higher than the previous forecast of 6%-8%, indicating the company's strengthening position in the AI sector.
- Impressive Stock Performance: Nokia's U.S.-listed shares rose 5.4% on Tuesday to reach a new record close, adding 1.6% in after-hours trading, marking four consecutive days of gains, and if this trend continues, it would represent the stock's best monthly performance since October 2025, reflecting positive market sentiment following its earnings report.
- Retail Sentiment Optimistic: On Stocktwits, retail sentiment for Nokia has surged since its earnings report, rated as 'extremely bullish' on Tuesday, with a 56% increase in 24-hour message volume, indicating strong investor confidence in Nokia's future, especially as institutional Q1 filings approach.
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Analyst Views on NOK
Wall Street analysts forecast NOK stock price to fall
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 14.090
Low
6.50
Averages
7.36
High
8.50
Current: 14.090
Low
6.50
Averages
7.36
High
8.50
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.
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- Expansion of Strategic Partnerships: Nvidia has invested billions in companies like Nokia, Coherent, Lumentum, and Marvell Technology to enhance high-speed optical interconnects and advanced networking, opening new opportunities beyond AI infrastructure and into scalable edge computing and autonomous systems.
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- Strategic Investment Boost: The strategic investment from NVIDIA further solidifies Nokia's position in the rapidly growing AI infrastructure market, particularly in the construction of hyperscale data centers that require high-performance optical connectivity.
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- Increased Optical Investments: Nokia CEO Justin Hotard announced plans to boost investments in optical networks due to soaring demand, aiming to capture accelerating needs from AI and cloud customers, thereby strengthening its competitive edge in the optical market.
- Strong Order Growth: JPMorgan highlighted that Nokia's €1 billion ($1.16 billion) orders in cloud and AI are primarily from its optical networks business, with expectations for significant order acceleration by 2026, driving revenue growth in the coming years.
- Market Competitive Advantage: With restrictions on Chinese competitors in Western markets, Nokia and rival Ciena have become the primary suppliers of optical equipment, leading both JPMorgan and Morningstar to assert that Nokia's leadership in data center interconnect and optical transport will further solidify its market position.
See More
