Telefonaktiebolaget LM Ericsson Class B (ERIC) Receives a Hold from Cowen & Co.

By Ryan Adsit

In a report released yesterday, Paul Silverstein from Cowen & Co. reiterated a Hold rating on Telefonaktiebolaget LM Ericsson Class B (ERICResearch Report), with a price target of $9. The company’s shares closed yesterday at $8.84.

According to TipRanks.com, Silverstein is a top 100 analyst with an average return of 28.2% and a 64.4% success rate. Silverstein covers the Consumer Goods sector, focusing on stocks such as Cisco Systems Inc, Extreme Networks, and Plantronics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Telefonaktiebolaget LM Ericsson Class B with a $9 average price target.

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The company has a one-year high of $10.46 and a one-year low of $7.63. Currently, Telefonaktiebolaget LM Ericsson Class B has an average volume of 6.35M.

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Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other.