Nokia (NOK) stock rallied on Tuesday after the mobile, fixed, and cloud network solutions company announced a collaboration with security and aerospace company Lockheed Martin (LMT). Nokia Federal Solutions, the company’s U.S. government-focused division, revealed a new modular, open architecture 5G solution designed for use by the U.S. and allied defense forces.
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According to Nokia, this new solution offers secure, resilient communications that integrate its carrier-grade 5G within the Department of War’s (DoW) open architecture framework. Nokia also noted that the service utilizes CMOSS hardware and software module specifications to reduce complexity and accelerate integration.
Mike Loomis, president and CEO of Nokia Federal Solutions, said, “Nokia recognizes the need to adapt our advanced technology portfolio to align with DoW-defined open systems. This launch reflects how Nokia is building focused defense capabilities, leveraging our commercial technology and strong partnerships into a meaningful, ready-to-use solution that is deployable by our defense customers.”
Nokia & Lockheed Martin Stock Movements Today
Nokia stock gained 1.67% on Tuesday, building on a 108.08% year-to-date rally. The stock has also increased 161.23% over the past 12 months. Trading activity today saw some 51.87 million shares change hands, compared to a three-month average daily trading volume of about 65.97 million shares.
Lockheed Martin stock hasn’t performed as well today, with a 1.15% fall. Even so, LMT stock remained up 6.72% year-to-date and 10.67% over the past 12 months. Some 288,000 shares of LMT stock have changed hands today, which was well below the company’s three-month average daily trading volume of 1.36 million shares.
Is Nokia Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nokia is Strong Buy, based on seven Buy and two Hold ratings over the past three months. With that comes an average NOK stock price target of $12.40, representing a potential 6.84% downside for the shares.
