Why Nokia Stock Is Skyrocketing Today
(NYSE: NOK) stock is bounding higher in Monday's trading. The tech company's share price was up 9.1% as of 2:15 p.m. ET and had been up as much as 10.8% earlier in the session.
Nokia's valuation is seeing strong gains today in conjunction with bullish analyst coverage from Bank of America and a strong demand outlook for the company's optical technologies for artificial intelligence (AI). The stock is now up roughly 60% year to date.
Before the market opened this morning, Bank of America published new coverage on Nokia. The firm's analysts raised their rating on the stock from neutral to buy and set a one-year price target of $12.40 per share. Even with today's gains, the price target still suggests additional potential upside of roughly 20% as of this writing.
Source Fool.com
Nokia Corp. Stock
Our community is currently high on Nokia Corp. with 3 Buy predictions and 0 Sell predictions.
With a target price of 12 € there is a positive potential of 36.71% for Nokia Corp. compared to the current price of 8.78 €.
