Nokia price target raised to EUR 5.40 from EUR 4.10 at UBS

UBS raised the firm’s price target on Nokia (NOK) to EUR 5.40 from EUR 4.10 and keeps a Neutral rating on the shares. The company’s Q3 results exceeded expectations, driven by artificial intelligence growth and optical networks, but telecom capex risks may limit the stock’s upside, the analyst tells investors in a research note.