Analysts Are Upgrading These 5 Value Stocks

In this article, we discuss 5 value stocks that analysts are upgrading. If you want to check more value stocks that were recently upgraded, click Analysts Are Upgrading These 10 Value Stocks.

5. Nokia Oyj (NYSE:NOK)

Number of Hedge Fund Holders: 26

P/E Ratio as of March 14: 15.50

Nokia Oyj (NYSE:NOK) is a Finnish company that deals in mobile networks, network infrastructure, and cloud services. Over the last 12 months, the stock has gained close to 17%, and the company bested market consensus for earnings and revenue in Q4 2021.

Simon Leopold, an analyst from Raymond James, upgraded Nokia Oyj (NYSE:NOK) to Outperform from Market Perform with a $6.50 price target on March 14. The analyst sees Nokia Oyj (NYSE:NOK)’s competitive position improving and he thinks the company is exposed to several untapped market opportunities. According to Leopold, Nokia Oyj (NYSE:NOK)’s business has “inflected” and the management has successfully rebuilt its credibility among users and investors. The latest share repurchases and possible distribution of dividends are “great signals regarding management’s confidence”. There is also “potential optionality” in Nokia Oyj (NYSE:NOK)’s optical and mobility units, noted the analyst. 

According to the hedge funds traced by Insider Monkey, 26 funds were long Nokia Oyj (NYSE:NOK) at the end of 2021, and Arrowstreet Capital was the biggest shareholder of the company, with 37.3 million shares worth $232.3 million.