Telefonaktiebolaget LM Ericsson PT Raised to $13.00 (ERIC)
Equities research analysts at Canaccord Genuity upped their target price on shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from $11.00 to $13.00 in a research note issued to investors on Friday, AnalystRatingsNetwork reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 5.52% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at DNB Markets upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note to investors on Friday. Separately, analysts at ABG Sundal Collier downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 15th. Finally, analysts at Barclays downgraded shares of Telefonaktiebolaget LM Ericsson from an “equal weight” rating to an “underweight” rating in a research note to investors on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.00.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) opened at 12.32 on Friday. Telefonaktiebolaget LM Ericsson has a 1-year low of $8.31 and a 1-year high of $13.79. The stock has a 50-day moving average of $12.32 and a 200-day moving average of $12.13. The company’s market cap is $39.735 billion.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings data on Thursday, October 24th. The company reported $1.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.09. The company had revenue of $53.00 billion for the quarter, compared to the consensus estimate of $54.62 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Telefonaktiebolaget LM Ericsson will post $0.73 EPS for the current fiscal year.
Telefonaktiebolaget LM Ericsson is a Sweden-based communications technology company. The Company is engaged in the provision of communications infrastructure, services and multimedia solutions.
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