Goldman Sachs upgrades Nokia stock rating on AI infrastructure growth

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Ten U.S. servicemembers wounded in Iranian strike on Saudi base- report Iran conflict latest: Rubio says U.S.’s Iran operation to end in weeks, not months Dow joins Nasdaq in correction territory as Wall Street bleeds amid Iran war Oil erases weekly loss, Brent above $110 as steel, energy targets struck in Iran (South Africa Philippines Nigeria) Goldman Sachs upgrades Nokia stock rating on AI infrastructure growth By Analyst Ratings Published 03/27/2026, 07:23 PM Goldman Sachs upgrades Nokia stock rating on AI infrastructure growth 0 NOKIA -5.06% NOK -3.62% Investing.com - Goldman Sachs upgraded Nokia OYJ (NYSE:NOK) (NOKIA:FH) to Neutral from Sell on Friday, raising its price target to EUR8.00 from EUR3.50. The stock currently trades at $7.98 and has delivered strong returns, climbing 57% over the past year and 72% in the last six months. The upgrade reflects a more positive view on Nokia’s growth opportunities in Optical and IP Networks, which Goldman Sachs believes will continue to benefit from the ongoing AI infrastructure build-out. In recent quarters, Nokia has pointed to strong order momentum in these segments. The company has disclosed multiple design wins for its pluggable offering and highlighted that it ended 2025 with an order backlog of approximately EUR2.5 billion from AI and Cloud customers. Goldman Sachs noted the increasingly important role of Optical in connecting AI data centers in a compute and energy constrained environment. Nokia maintains a strong balance sheet with more cash than debt and a low debt-to-equity ratio of 0.21, according to InvestingPro data, though the platform’s Fair Value analysis suggests the stock may be overvalued at current levels. Goldman Sachs continues to expect limited growth opportunities in Nokia’s cyclical Radio Networks business due to a flat underlying wireless RAN market. The Mobile Infrastructure segment now represents approximately 30% of Nokia’s group re...