Jefferies Goes Bullish on Nokia

The Nokia logo is displayed at the Mobile World Congress (MWC) in Barcelona, Spain, on Feb. 25, 2019. Gabriel Bouys/AFP via Getty Images

Jefferies analyst Janardan Menon initiated coverage of Nokia Oyj with a Buy rating and EUR 6 price target.

Menon sees 2022 as a strong year for telecom equipment makers citing lofty U.S. C-band deployments and improved 5G roll-outs in Europe.