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, 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.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.