Pierre1 schreef op 29 september 2020 16:04:
Nokia: Crédit Suisse cuts target price
Credit Suisse maintains a neutral rating on the Nokia share, while cutting its target price from 4 euros to 3.65 euros.
The broker has cut its EPS estimates: -3% in 2020 (to 0.23 euro) and -13% in 2021 (to 0.25 euro), in particular to take into account the loss of Verizon-related sales (approximately 1 billion euros).
'5G capex thesis remains on track - slower but longer growth ahead,' Crédit Suisse says. The broker expects a market of 63.5 billion dollars in 2022, which is still below the 64.8 billion dollars observed when 4G peaked in 2015.
Crédit Suisse finally estimates Nokia's to post sales of 22 billion euros (-6%) in 2020, followed by 21.8 billion euros (-1%) in 2021.