Ericsson (ERIC) : Analyst Rating Update

Ericsson (ERIC) : 8 analysts are covering Ericsson (ERIC) and their average rating on the stock is 3.5, which is read as a Hold. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Ericsson (ERIC) : The highest short term price target forecast on Ericsson (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.

Ericsson (NASDAQ:ERIC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.36 and $7.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.44, notching a gain of 0.40% for the day. The total traded volume was 2,013,510 . The stock had closed at $7.41 on the previous day.

Also, In a research note released to the investors, Goldman Sachs upgrades 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 Sell by the brokerage firm. The rating by the firm was issued on June 21, 2016. The company shares have dropped -27.00% 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 27, 2016. The 50-Day Moving Average price is $7.63 and the 200 Day Moving Average price is recorded at $8.74.

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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