Telefonaktiebolaget LM Ericsson (ERIC) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

Several other research firms have also issued reports on ERIC. Zacks Investment Research lowered Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a research note on Saturday, July 14th. Bank of America raised Telefonaktiebolaget LM Ericsson from an underperform rating to a neutral rating in a research note on Wednesday, July 25th. JPMorgan Chase & Co. raised Telefonaktiebolaget LM Ericsson from a neutral rating to an overweight rating in a research note on Wednesday, September 5th. BMO Capital Markets reissued a hold rating on shares of Telefonaktiebolaget LM Ericsson in a research note on Thursday. Finally, Raymond James lowered Telefonaktiebolaget LM Ericsson from a market perform rating to an underperform rating in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Telefonaktiebolaget LM Ericsson presently has a consensus rating of Hold and a consensus target price of $8.49.

ERIC opened at $9.36 on Thursday. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.84 and a 12-month high of $9.45. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP raised its position in Telefonaktiebolaget LM Ericsson by 7.6% in the 2nd quarter. Trexquant Investment LP now owns 121,914 shares of the communications equipment provider’s stock valued at $935,000 after purchasing an additional 8,572 shares in the last quarter. Stifel Financial Corp raised its position in Telefonaktiebolaget LM Ericsson by 7.2% in the 1st quarter. Stifel Financial Corp now owns 178,785 shares of the communications equipment provider’s stock valued at $1,138,000 after purchasing an additional 12,057 shares in the last quarter. Institute for Wealth Management LLC. raised its position 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 purchasing an additional 12,625 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Telefonaktiebolaget LM Ericsson by 37.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 55,269 shares of the communications equipment provider’s stock valued at $354,000 after purchasing an additional 15,033 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Telefonaktiebolaget LM Ericsson by 26.0% in the 3rd quarter. Bank of Montreal Can now owns 73,782 shares of the communications equipment provider’s stock valued at $650,000 after purchasing an additional 15,243 shares in the last quarter. 8.18% of the stock is currently owned by hedge funds and other institutional investors.

About Telefonaktiebolaget LM Ericsson

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.

Read More: Price to Earnings Ratio (PE)

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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