Wall Street analysts see a 41% rise in Nokia

13. 04. 2022 Wednesday / By: Robert Denes / Business / Exact time: BST / Print this page

N okia (NOK) closed the last trade at $ 5.37, an 11.6% gain over the past four weeks, but could remain well on the upside if Wall Street analysts set short-term price targets. An average price target of $ 7.55 indicates a 40.6% upside potential.

The average includes four short-term price targets ranging from the lowest $ 6.90 to the highest $ 8, with a standard deviation of $ 0.48. While the lowest estimate indicates an increase of 28.5% compared to the current price level, the most optimistic estimate indicates an increase of 49%. Beyond the range, it is worth noting the standard deviation here, as this will help you understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a highly coveted metric for investors, it may not be wise to bank on that metric alone to make an investment decision. This is because the ability and impartiality of analysts in setting price targets has long been in question.

However, for Nokia, the impressive average price is not the only indicator of potential upside. The strong consensus among analysts on the company’s ability to deliver better-than-expected results reinforces this view. While the positive trend in revising earnings estimates does not measure how much a stock can gain, it has proven to be strong in the upward forecast.

While Wall Street analysts are deeply familiar with the fundamentals of the company and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. k or which you wish to be associated with. In other words, business incentives for equities companies often result in excessive price targets set by analysts.

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