UBS AG Upgrades Telefonaktiebolaget LM Ericsson to Buy (ERIC)

By admin | 6 years ago

Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) was upgraded by UBS AG (NYSE: UBS) from a “neutral” rating to a “buy” rating in a research note issued on Friday.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a research note to investors on Thursday, April 26th. Separately, analysts at Deutsche Bank (NYSE: DB) initiated coverage on shares of Telefonaktiebolaget LM Ericsson in a research note to investors on Friday, February 24th. They set a “hold” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) upgraded shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, February 23rd.

Shares of Telefonaktiebolaget LM Ericsson traded down 3.64% during mid-day trading on Friday, hitting $8.725. Telefonaktiebolaget LM Ericsson has a one year low of $8.58 and a one year high of $15.44. The company has a market cap of $28.029 billion and a P/E ratio of 11.96.

Telefonaktiebolaget LM Ericsson last issued its quarterly earnings data on Wednesday, April 25th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post $0.14 earnings per share next quarter.

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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