Nokia shares rose after the company announced a collaboration with Telxius to deploy its ICE-X 800G ZR/ZR+ coherent pluggable optics across Telxius’ terrestrial transport networks in Europe, the U.S. and Latin America. The rollout uses IP-over-DWDM (Internet Protocol over dense wavelength division multiplexing) to expand capacity, reduce power consumption and limit space requirements. It also includes network automation for visibility, fault and performance monitoring, and coordinated service provisioning. Nokia shares were up 2.81% at $9.92 in Tuesday premarket trading, according to Benzinga Pro data. Investors are tracking Nokia’s confirmed October 22, 2026, earnings date, with estimates of 8 cents in EPS and $5.81 billion in revenue. The stock has a Buy consensus rating and an average price forecast of $17.00, while its 69.3x P/E indicates a premium valuation relative to peers. Analysts have recently issued positive actions, including Rosenblatt’s Buy initiation with a $15.00 target, JPMorgan’s Overweight rating and increased $21.00 target, and Argus Research’s upgrade to Buy with a $15.00 target. The source also identifies Spear Alpha ETF (SPRX), referred to as NOK Spear Alpha ETF (NASDAQ:SPRX), as holding a 3.76% weight in Nokia, meaning fund inflows or outflows could prompt automatic stock purchases or sales.