5. Nokia Corporation (NYSE:NOK)
Number of Hedge Funds: 22
Stock Price as of February 8: $5.69
Nokia Corporation (NYSE:NOK) is a global technology corporation founded in 1865. The company has a broad portfolio of network equipment, software, services, and licensing opportunities.
Nokia Corporation (NYSE:NOK) reported its Q4 2021 results on February 3. Revenue was posted at $7.33 billion and beat the consensus estimate by $54.89 million. Meanwhile, the GAAP EPS of $0.14 beat the consensus estimate of $0.11. In the last year, the stock price of Nokia Corporation (NYSE:NOK) has soared by over 35% and has outperformed the S&P 500 Index, which experienced an increase of under 16% during the same period. For FY22, Nokia Corporation (NYSE:NOK) provided an annual revenue forecast between €22.60 billion and €23.8 billion. Meanwhile, the operating margin is expected to remain around 11% to 13.5%. In addition to this, the Board of Directors approved a dividend per share of €0.08 per share and authorized a share buyback program of €600 million over the next two years.
On December 20, Dominik Olszewski at Morgan Stanley began coverage on Nokia Corporation (NYSE:NOK) with an Overweight rating and a price target of $7.50. The analyst observes that the stock offers a positive risk to reward and is “on the route to recovery” by next year.
4. Comstock Resources, Inc. (NYSE:CRK)
Number of Hedge Funds: 24
Stock Price as of February 8: $7.37
Comstock Resources, Inc. (NYSE:CRK) is a natural gas pure-play that operates in the Haynesville shale. The Frisco, Texas-based corporation has an eleven-year reserve life, which is one of the best in the industry. The fundamental of natural gas is strong, which has aided Comstock Resources, Inc. (NYSE:CRK) in focusing on generating strong free cash flow. Comstock Resources, Inc. (NYSE:CRK) is a little more leveraged than its competitors, making it a high-risk and reward option in the natural gas universe. In the last six months, the stock price of Comstock Resources, Inc. (NYSE:CRK) has risen by over 25% as of February 8.
On January 14, Neal Dingmann at Truist reiterated a Hold rating on Comstock Resources, Inc. (NYSE:CRK) stock with a $10 target price. The analyst thinks that companies focused on crude oil exploration and production (E&P) should have a higher target price as he revised his crude oil price estimates by 10% for 2022 and his 2023 estimates by 8%. Crude oil prices are at a seven-year high on the back of tensions between Russia and Ukraine. The commodity has closed the past seven consecutive weeks in the green.