(CercleFinance.com) – Barclays announced on Friday that it had downgraded its advice on Nokia shares, down to ‘underweight’ from ‘online weighting’ so far, with a price target lowered from 4.6 to three euros.
The broker explains that it is concerned about the health of the market after a drop of almost half in the activity of telecom equipment manufacturers in radio access networks (RAN) last year in North America.
‘We believe this bearish cycle is not over with 5G base station data suggesting a major slowdown in India,’ Barclays analysts explain.
From the design office’s point of view, the recent decision taken by AT&T to opt for so-called ‘open’ network technologies (Open RAN) risks posing long-term structural problems for the sector.
In this context, Barclays has also decided to downgrade its recommendation on the Swedish Ericsson to ‘underweight’.
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