Nokia (NOK) Received Ratings Upgrades from Morgan Stanley, Kepler Cheuvreux in January

Nokia Corp (NYSE:NOK) is one of the Best Tech Stocks Under $10 to Buy, at least based on two ratings upgrades that the company gained in January. For instance, Morgan Stanley upgraded Nokia to Overweight from Equal Weight on January 15, with a price target change to €6.50 from €4.20, noting that the company is now more exposed to network demand driven by data centers and AI, which now account for about 6% of group revenues. The analyst projected that the addressable market for data center and AI activity will likely increase by more than 15% annually, and that strong demand in optical networks also played a role in the upgrade.

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Photo by M. Rennim on Unsplash

Morgan Stanley’s upgrade of Nokia Corp (NYSE:NOK) followed a similar ratings change on January 6, this time by Kepler Cheuvreux, which upgraded the company to Buy from Hold and raised the price target to €6.60 from €5. The analyst projected that Nokia’s network infrastructure sales will increase 7% per year from 2025 to 2028, including 8% annually in IP networks and 12% in optical networks.

Known for its mobile phones in the 2000s, Nokia Corp (NYSE:NOK) currently operates in network infrastructure, technology, and software fields. The company has built the infrastructure behind mobile and fixed networks, including 5G, fiber, cloud, and data center solutions.

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Disclosure: None. This article is originally published at Insider Monkey.