HELSINKI, March 20, 2026, 17:56 EET
Nokia shares dipped under the 7 euro mark on Friday, pressured by a fresh sell recommendation out of Finnish brokerage Inderes. The Helsinki stock was last seen at 6.984 euros, a 1.63% loss for the session, following Thursday’s 3.16% drop.
This shift comes after Nokia hit 7.54 euros on Monday, the highest point in its one-year span. Shares have retreated since then, but even so, they’re holding onto gains of more than 25% since the beginning of 2026.
Finwire reported Thursday—via MarketScreener—that Inderes cut Nokia to sell, lowering the target price to 5.20 euros. The downgrade followed a steep rally in the stock, powered by AI momentum.
Nokia reported new insider transactions: Board member Thomas Dannenfeldt offloaded 33,500 shares on March 19 at a volume-weighted average of 6.9944 euros, in compliance with EU market-abuse regulations. The sale came one day after the company handed out 1.22 million treasury shares to equity incentive plan participants. Nokia now holds 138.1 million own shares.
Nokia, for its part, kept the growth narrative alive. This week, it announced software for Turkcell in Türkiye that monitors fixed-broadband performance and can spot issues before customers feel the impact. The rollout now covers upwards of 3 million users. “Broadband has become central to our daily lives,” said Turkcell CTO V. Çağrı Güngör. Nokia’s John Harrington added the new system delivers a “more complete view of network behavior.” GlobeNewswire
That lines up with Nokia’s broader strategy. Earlier this month, Reuters noted the company struck fresh AI-related deals with TIM Brasil and Deutsche Telekom, having recently secured a multi-year data-centre network agreement with Telefonica in Spain. AI-driven network demand is opening doors for hardware suppliers like Nokia, as well as Sweden’s Ericsson.
The financial climate isn’t offering much slack. Nokia posted a fourth-quarter comparable operating profit of 1.05 billion euros—matching forecasts—and set a 2026 target for comparable operating profit between 2 billion and 2.5 billion euros. Jefferies, after January’s numbers, described Nokia’s guidance as “somewhat conservative.” Reuters
Nvidia’s $1 billion investment for a 2.9% stake in Nokia last October fueled much of the stock’s surge. Shares soared over 20% that day after PP Foresight analyst Paolo Pescatore labeled the move a “strong endorsement of Nokia’s capabilities.” Reuters
The catch: AI breakthroughs might grab headlines faster than they boost real profits. Back in November, Nokia set a target for annual comparable operating profit of 2.7 billion to 3.2 billion euros by 2028. Still, Inderes analyst Atte Riikola pointed out at the time that “Market expectations were higher” after shares surged. That strain hasn’t vanished—Friday’s selloff underlines the point. Reuters
