Price Target Update on Ericsson (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) : The highest short term price target forecast on Ericsson (NASDAQ:ERIC) is $12 and the lowest target price is $7. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $8.73 with a standard deviation of $2.45.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Swedbank downgrades its rating on Ericsson (NASDAQ:ERIC).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on May 3, 2016.

Ericsson (NASDAQ:ERIC): stock turned positive on Thursday. Though the stock opened at $8.03, the bulls momentum made the stock top out at $8.04 level for the day. The stock recorded a low of $7.95 and closed the trading day at $8.04, in the green by 1.64%. The total traded volume for the day was 2,800,991. The stock had closed at $7.91 in the previous days trading.

The company shares have dropped -27.96% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $11.08 and the one year low was seen on Jun 14, 2016. The 50-Day Moving Average price is $7.65 and the 200 Day Moving Average price is recorded at $8.84.

Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services, software and infrastructure for mobility, broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio, Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks, Global Services, Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media, and Industry and Society. Radio, Core and Transmission, as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS, TV & Media, report into Support Solutions segment, while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.

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