Nokia
This telecommunications company once ruled the cell phone arena, until the advent of the smartphone in 2007, but has reemerged as a top meme stock. Nokia Corp. (NYSE: NOK) owns two main businesses: 1) Nokia Networks, a network infrastructure equipment supplier to global wireless and wireline operators, and 2) Technologies, its patent/IPR licensing activities.
In a very positive sign for investors, the company restarted its quarterly dividend late last year and it initiated a share buyback program earlier this year. In addition, Nokia has forecast annual revenue that was largely ahead of projections and set a long-term target for operating margins of at least 14%, replacing its earlier 2023 target of between 11% and 13%.
Raymond James has a $6 target price, and Nokia stock has a consensus target of $6.84. The shares traded at $4.15 on Friday.
Novavax
This small biotech stock has taken investors on a roller-coaster ride over the past three years but could be ready for a big move higher. Novavax Inc. (NASDAQ: NVAX) promotes improved health by discovering, developing and commercializing vaccines to protect against serious infectious diseases. It offers a vaccine platform that combines a recombinant protein approach, nanoparticle technology and its patented Matrix-M adjuvant to enhance the immune response.
Novavax focuses on urgent health challenges, which is evaluating vaccines for COVID-19 and influenza, as well as COVID-19 and influenza combined. The company is commercializing a COVID-19 vaccine, NVX-CoV2373 under the brand names of Nuvaxovid, Covovax and Novavax COVID-19 Vaccine, Adjuvanted for adult and adolescent populations as a primary series and for both homologous and heterologous booster indications. It is also focusing on product candidates for respiratory syncytial virus and malaria.
The H.C. Wainwright target price is $35, and the consensus target is just $22.00. Novavax stock traded on Friday at $7.65.
Sirius XM
Increasing numbers of people are using satellite radio, and this stock is a solid idea for aggressive investors. Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world’s largest radio company measured by revenue, and it has approximately 33.1 million subscribers.
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