Telefonaktiebolaget LM Ericsson (ERIC) Receives a Buy from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst Michael Walkley reiterated a Buy rating on Telefonaktiebolaget LM Ericsson (ERICResearch Report) today and set a price target of $11.00. The company’s shares closed last Monday at $8.42.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 20.6% and a 68.2% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Digi International, and Skyworks Solutions.

Telefonaktiebolaget LM Ericsson has an analyst consensus of Strong Buy, with a price target consensus of $11.20, a 35.1% upside from current levels. In a report issued on January 13, Citigroup also upgraded the stock to Buy.

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The company has a one-year high of $10.46 and a one-year low of $7.58. Currently, Telefonaktiebolaget LM Ericsson has an average volume of 4.7M.

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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.