Telefonaktiebolaget LM Ericsson (ERIC) Stock Rating Reaffirmed by BMO Capital

BMO Capital Markets reiterated their hold rating on shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) in a research report released on Thursday, October 18th.

Several other research firms also recently issued reports on ERIC. JPMorgan Chase & Co. upgraded Telefonaktiebolaget LM Ericsson from a neutral rating to an overweight rating in a research note on Wednesday, September 5th. Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating and set a $9.75 price target for the company in a research note on Wednesday, September 19th. Canaccord Genuity upped their price target on Telefonaktiebolaget LM Ericsson from $8.50 to $9.00 and gave the stock a hold rating in a research note on Friday, September 28th. Bank of America upped their price target on Telefonaktiebolaget LM Ericsson from $8.50 to $8.70 and gave the stock a neutral rating in a research note on Thursday, September 13th. Finally, Credit Suisse Group upgraded Telefonaktiebolaget LM Ericsson from an underperform rating to a hold rating and upped their price target for the stock from $7.19 to $8.00 in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $8.49.

Shares of NASDAQ ERIC opened at $9.01 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. Telefonaktiebolaget LM Ericsson has a one year low of $5.84 and a one year high of $9.45. The stock has a market capitalization of $29.84 billion, a price-to-earnings ratio of -19.17 and a beta of 0.79.

A number of large investors have recently made changes to their positions in ERIC. Lenox Wealth Management Inc. raised its holdings in Telefonaktiebolaget LM Ericsson by 7,208.4% in the 3rd quarter. Lenox Wealth Management Inc. now owns 21,706 shares of the communications equipment provider’s stock valued at $191,000 after acquiring an additional 21,409 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Telefonaktiebolaget LM Ericsson in the 2nd quarter valued at approximately $175,000. Engineers Gate Manager LP acquired a new position in Telefonaktiebolaget LM Ericsson in the 3rd quarter valued at approximately $202,000. Tower Research Capital LLC TRC acquired a new position in Telefonaktiebolaget LM Ericsson in the 2nd quarter valued at approximately $206,000. Finally, Institute for Wealth Management LLC. raised its holdings in Telefonaktiebolaget LM Ericsson by 62.1% in the 2nd quarter. Institute for Wealth Management LLC. now owns 32,953 shares of the communications equipment provider’s stock valued at $248,000 after acquiring an additional 12,625 shares in the last quarter. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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