Ericsson (ERIC) : 9 analysts are covering Ericsson (ERIC) and their average rating on the stock is 3.22, which is read as a Hold. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 8 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Ericsson (ERIC) : The consensus price target for Ericsson (ERIC) is $6.6 for the short term with a standard deviation of $1.04. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $8, however, the pessimist price target for the company is $6.
Also, Equity analysts at the Brokerage firm UBS downgrades its rating on Ericsson (NASDAQ:ERIC). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 21, 2016.
Ericsson (NASDAQ:ERIC): After opening at $6.79, the stock dipped to an intraday low of $6.73 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $6.85 and the buying power remained strong till the end. The stock closed at $6.83 for the day, a gain of 1.64% for the day session. The total traded volume was 2,830,422. The stocks close on the previous trading day was $6.72.
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.