Nokia upgraded to Buy from Neutral at BofA

BofA upgraded Nokia (NOK) to Buy from Neutral with a price target of $12.40, up from $7.96. Nokia is transforming into an “optical powerhouse with a European advantage,” the analyst tells investors in a research note. The firm says that following its Infinera acquisition and CEO change in 2025, Nokia has “multiple levers as it rides growing momentum in the optical industry.”