NOK Stock Gains After-Hours — Nokia Oyj Rejoins Europe's Benchmark Stoxx 50 Index

• Nokia Oyj and French utility Engie SA will join the Euro Stoxx 50 before trading opens on September 21.
• Membership changes drive automatic buying or selling from global index funds and ETFs. 
• 12 out of 23 analysts rate the stock ‘buy,’ four say ‘hold,’ and seven suggest ‘sell,’ as per Koyfin data.

US-listed shares of Nokia (NOK) rose 1% after-hours on Tuesday after the company was set to return to the Euro Stoxx 50 benchmark index after a one-year absence, replacing German automaker Volkswagen AG in the latest annual review by index provider Stoxx Ltd.

The Finnish telecommunications equipment maker has seen its equity value gain in recent months, driven by strong market enthusiasm for its strategic pivot into cloud infrastructure and artificial intelligence applications.

NOK stock has gained about 53% so far this year, driven by significant retail investor interest.   

JPMorgan’s Bullish Stance

In its latest rating in August, JPMorgan ranked Nokia among its preferred stocks, maintaining an ‘Overweight’ rating and a $21 price target, implying over 100% upside to the stock’s last closing price. 

JPMorgan believes investors may be underestimating Nokia’s opportunity to benefit from rising demand for artificial intelligence and cloud infrastructure. The firm said that Nokia’s current order pipeline points to stronger earnings in 2027 and 2028 than what analysts currently expect. 

Nokia reported Q2 revenue of €4.815 billion ($5.5 billion), up 8% year over year, and earnings per share of €0.07, both in line with Wall Street expectations. Growth was driven mainly by the Network Infrastructure division, which expanded 12%, alongside cloud and AI customer sales that more than doubled.

Broader Index Rebalancing

All adjustments to the Euro Stoxx 50 will take effect before the market open on September 21. These index realignments carry significant financial consequences because the rapid growth of passive investment vehicles requires index-tracking funds to automatically buy shares of newly added companies while divesting from those that drop out.

NOK Stock: Retail View 

Retail sentiment on Stocktwits was ‘bearish’ with ‘normal’ message volumes. Retail chatter on the stock rose about 150% over the previous session and is up 642% over the past month. 

However, analysts overall remain bullish. 12 out of 23 analysts rate the stock ‘buy,’ four say ‘hold,’ and seven suggest ‘sell,’ as per Koyfin data.

NOK stock has gained 52% year-to-date. 

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