Nokia price target raised to $7.50 from $6.50 at Northland

Northland raised the firm’s price target on Nokia (NOK) to $7.50 from $6.50 and keeps an Outperform rating on the shares following a better than expected Q3 report. 19% comparable growth in Optical revenue represents a growth rate on par with industry leader Ciena (CIEN), says the analyst, who points out that Nokia noted very strong order input in Optical and strength in IP routing.