BofA raised the firm’s price target on Nokia (NOK) to $8.07 from $4.64 and keeps a Neutral rating on the shares after Nvidia (NVDA) announced it is investing $1B in new Nokia shares at a purchase price of $6.01, or EUR 5.16 per share. The investment comes in addition to an announced strategic partnership with Nvidia to enable next generation AI native mobile networks and AI networking infrastructure, notes the analyst, who views this partnership as a strategic inflection point that strengthens Nokia’s exposure to AI-native data center switching.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOK:
- Nokia’s Strategic Partnership with NVIDIA: Long-Term Potential Amidst Near-Term Constraints
- Nokia partners with Zayo to deploy IP network architecture
- Nokia downgraded to Neutral from Outperform at Grupo Santander
- Nvidia Stock (NVDA) Hits All-Time High after Barrage of AI and Supercomputing Deals
- Nvidia (NVDA) Says that Its AI Chips Are Now Being Produced in the U.S.