Arete Research Upgrades Telefonaktiebolaget LM Ericsson (ERIC) to Hold

By Austin Angelo

In a report released yesterday, Arete Research from Arete Research upgraded Telefonaktiebolaget LM Ericsson (ERICResearch Report) to Hold. The company’s shares closed last Wednesday at $11.76.

Telefonaktiebolaget LM Ericsson has an analyst consensus of Moderate Buy, with a price target consensus of $17.75, which is a 51.5% upside from current levels. In a report issued on July 19, Argus Research also downgraded the stock to Hold.

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Telefonaktiebolaget LM Ericsson’s market cap is currently $39.21B and has a P/E ratio of 16.10. The company has a Price to Book ratio of 6.77.

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Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, develops and manufactures communication network equipment, and provides telecom services and support solutions. The Company’s portfolio includes products for the enterprise, mobile platform, cable, and power module markets.