Nokia Oyj's Bull Case Rekindled by Proximus Deal and Leveraged ETF

Nokia Oyj's investment narrative has been boosted by Proximus' selection of Nokia's cloud-native charging and voice core solutions and the launch of a new leveraged ETF. This reinforces Nokia's positioning in cloud-native charging and voice core, tied to 5G monetization, and signals operator willingness to adopt Nokia's stack. However, investors should be aware of the risk of high expectations amplifying any disappointment, and divergent fair value estimates ranging from €2.61 to €7.20.