Bank of America keeps EUR 16.00 target for Nokia stock

Published on 10/20/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank of America expects more than EUR 2.00 billion in AI orders before results. Nokia stock costs EUR 8.02 on October 20, 2026 versus the EUR 16.00 target.

Analyst view and earnings date

Bank of America kept a EUR 16.00 target on October 19, 2026.
AI-related orders above EUR 2.00 billion are expected before the October 22, 2026 results.
Nokia stock traded at EUR 8.02 at 10:02 a.m. CEST at Lang & Schwarz on October 20, 2026.

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Nokia (ISIN FI0009000681) was trading at EUR 8.02 at Lang & Schwarz on October 20, 2026 at 10:02 a.m. CEST. Bank of America reiterated a Buy rating and a EUR 16.00 target ahead of Nokia's third-quarter results, according to MarketScreener on October 19, 2026.

Bank of America sees order potential

The bank expects more than EUR 2.00 billion in AI-related orders in the third quarter. At least EUR 1.60 billion could come from optical networks and EUR 400.00 million from switches, according to the same MarketScreener report. That forecast is below Nokia's EUR 2.80 billion second-quarter order intake, making production capacity a key test for the next update.

What will October 22 test?

Nokia's AI and Cloud customer net sales more than doubled to EUR 446.00 million in the second quarter, while Optical Networks grew 20.00 percent in constant currency, Yahoo Finance reported on October 13, 2026. The coming report will show whether those gains translated into revenue, operating profit and cash generation.

Three dated Nokia markers

On July 23, 2026, Nokia's second-quarter AI and Cloud sales reached EUR 446.00 million. On October 13, 2026, the upcoming report was identified as the next test for the AI valuation, with second-quarter order intake at EUR 2.80 billion. On October 19, 2026, Bank of America reiterated its Buy rating and EUR 16.00 target. The first two figures are reported by Yahoo Finance, while the latest analyst view comes from MarketScreener.

Two dates set the next test

Nokia's investor-relations calendar lists third-quarter results for October 22, 2026, at approximately 8:00 a.m. Finnish time and an analyst webcast at 3:00 p.m. Finnish time. The dates and times are published on Nokia's investor-relations page.

Price before the results

The EUR 8.02 quote places the market's immediate attention on whether Nokia can convert AI demand into profitable growth. The next report therefore matters more for the relationship between order intake, margins and cash flow than for the headline sales figure alone. The further course of trading is shown by the continuously updated real-time quote of Nokia stock.