Nokia Stock Just Surpassed Its Street-High Price Target. Does It Have Any More Room to Run?

Nokia Oyj (NOK) has suddenly re-emerged as one of the market’s most compelling telecom infrastructure plays, with shares surging to fresh 52-week highs following a shift in Wall Street sentiment. A bullish upgrade from Bank of America, moving the stock to “Buy” from “Neutral,” ignited a sharp rally, sending Nokia up 9.6% in a single session on Apr. 13 and pushing it above the $10 threshold for the first time this year, while there was a slight intraday pullback in the following session.

Nokia has now exceeded even the Street-high price targets that previously framed investor expectations. Amid this, markets are being forced to reassess whether the company’s transformation into an artificial intelligence (AI)-driven networking and optical infrastructure player can sustain further upside.