Rosenblatt Securities initiated coverage of Nokia with a Buy recommendation and a $15 price objective, saying the Finnish telecommunications equipment provider is undervalued relative to its expanding role in AI infrastructure. Nokia’s Optical Networks division grew revenue 20% year over year in Q2 2026, while AI and Cloud revenue more than doubled and orders reached €2.8 billion, with about 50% expected to convert into revenue over the following year. Separately, Nokia and Telxius are deploying ICE-X 800G ZR/ZR+ coherent pluggable optics across terrestrial transport networks in Europe, the U.S. and Latin America using IP-over-DWDM, with lower power and space requirements and network automation. Nokia shares rose 2.81% to $9.92 in Tuesday premarket trading, according to Benzinga Pro. Rosenblatt forecasts operating margins above 15% by 2028, compared with 11.5% in 2026, while investors await Nokia’s confirmed October 22, 2026, earnings date.