Nokia Surges on Return to Top Eurozone Index with 40% Upside Target
Nokia's stock price surged overnight as the company prepares to rejoin the EURO STOXX 50 index, one year after it was dropped. The inclusion in the top Eurozone index will trigger passive buying from index funds, likely pushing Nokia's prices higher and increasing purchasing pressure for its U.S.-listed shares.
The move is part of Nokia's momentum in artificial intelligence (AI) development, following its extended partnership with Microsoft to develop an agentic, unified data foundation for telecom network automation. This collaboration combines the Nokia Data Suite with Microsoft Fabric, giving telecom operators access to network, enterprise, and third-party data for AI-driven operations.
Last week, B. Riley initiated coverage of Nokia with a 'Buy' rating and $15 price target, implying an upside of more than 40% from its last close on Friday. Analyst Mike Genovese also noted that strong demand for high-speed data transmission and high-capacity optical transport company Ciena would positively flow through to Nokia.
Retail sentiment around NOK stock was 'bullish' at the time of writing, with users predicting a price increase following the company's rejoining of the EURO STOXX 50 index. With its third quarter results expected on October 22, Nokia's stock has gained about 64% so far in 2026, while its Helsinki-listed shares have gained more than 69% in the same time.