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Investing.com - Deutsche Bank (ETR:DBKGn) has lowered its price target on Nokia OYJ (HELSINKI:HE:NOKIA) (NYSE:NOK) to EUR4.25 from EUR4.75 while maintaining a Buy rating on the stock.
The price target reduction follows Nokia’s recent trimming of its FY-25 comparable profit outlook by €0.3 billion to €1.6-2.1 billion, attributed primarily to foreign exchange impacts (75%) and tariffs (25%).
Deutsche Bank noted the foreign exchange impact was largely translational and anticipated, given that 55% of Nokia’s sales are denominated in dollar or dollar-linked currencies, while 50% of its costs are in USD.
In its full Q2 results released last week, Nokia indicated it expects a flat comparable operating margin quarter-over-quarter for the third quarter, suggesting heavy dependency on a strong fourth quarter to meet its revised guidance.
The telecommunications equipment manufacturer is also facing headwinds in India within its Mobile Networks division, which contributed to what Deutsche Bank described as an "indifferent reaction" to the company’s recent financial updates.
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