Nokia (NOK) revealed that it has been selected by its long-standing partner T-2, one of the largest telecommunications providers in Slovenia, as their sole vendor to supply equipment from its comprehensive AirScale 5G portfolio.
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In addition, Nokia will upgrade T-2’s existing Single RAN radio footprint and introduce improved 5G new radio services.
With Nokia’s services, businesses and consumers will benefit from faster, low-latency, high-capacity 5G connectivity with wider mobile coverage.
Shares of the multinational telecommunications giant have gained 41% over the past year. (See Nokia stock charts on TipRanks)
Tommi Uitto, President of Mobile Networks at Nokia, commented, “We are proud to expand our partnership with T-2 into the 5G era as their sole vendor. Our latest AirScale portfolio will help support T-2’s ambitious 5G roll-out plans and deliver incredible connectivity experiences across the country.”
Kepler Capital analyst Arnaud Girod recently reiterated a Buy rating on Nokia with a price target of $6.96 (18% upside potential).
Consensus among analysts is a Moderate Buy based on 5 Buys and 2 Holds. The average Nokia price target of $7.28 implies upside potential of 23.4% from current levels.
NOK scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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