(CercleFinance.com) – Nokia gains 3% in Paris while Oddo BHF retains his' buy 'opinion on the stock,' giving management the benefit of the doubt (in a difficult sector where the various managers have been disappointed in turn) ', but lowers its target price of 20% to 3.6 euros.

If the telecoms equipment manufacturer has published quarterly reports globally online, the analyst emphasizes that he has mainly warned about 2020, gave a 2021 margin guidance well below expectations and withdrew its 3/5 year MOP objectives between 12 and 14 %.

Taking into account the new guidance, Oddo revises its 2020 EPS estimates by 9% and 2021 by 30%. He reduced his turnover forecast and is now aiming for a 2% drop in turnover and an MOP of 8.3%, slightly below the middle of the guidance.