Citigroup Finally Downgrades Ericsson (NASDAQ:ERIC)

February 15, 2018 - By Nellie Frank

 Citigroup Finally Downgrades Ericsson (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) Receives a Downgrade

Citigroup lowered the rating on Ericsson (NASDAQ:ERIC) shares to a Hold. This, change in their rating was just revealed to investors and clients in analysts report earlier today.

Telefonaktiebolaget LM Ericsson (NASDAQ:publ) Ratings Coverage

Among 19 analysts covering Ericsson (NASDAQ:ERIC), 4 have Buy rating, 4 Sell and 11 Hold. Therefore 21% are positive. Ericsson has $80 highest and $5.25 lowest target. $21’s average target is 211.11% above currents $6.75 stock price. Ericsson had 40 analyst reports since August 5, 2015 according to SRatingsIntel. RBC Capital Markets maintained Telefonaktiebolaget LM Ericsson (NASDAQ:publ) on Wednesday, November 11 with “Outperform” rating. Canaccord Genuity maintained the stock with “Hold” rating in Thursday, September 21 report. The firm earned “Neutral” rating on Monday, September 26 by Credit Suisse. Canaccord Genuity maintained it with “Hold” rating and $700 target in Friday, June 30 report. J.P. Morgan maintained the shares of ERIC in report on Tuesday, July 18 with “Hold” rating. The company was upgraded on Wednesday, July 6 by Barclays Capital. As per Friday, January 15, the company rating was downgraded by Deutsche Bank. On Tuesday, July 18 the stock rating was maintained by Canaccord Genuity with “Hold”. The firm earned “Hold” rating on Friday, May 26 by Canaccord Genuity. Canaccord Genuity maintained the stock with “Hold” rating in Monday, October 23 report.

The stock increased 1.35% or $0.09 during the last trading session, reaching $6.75. About 3.43 million shares traded. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has declined 12.25% since February 15, 2017 and is downtrending. It has underperformed by 28.95% the S&P500.

Telefonaktiebolaget LM Ericsson provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. The company has market cap of $22.53 billion. It operates through three divisions: Networks, Global Services, and Support Solutions. It currently has negative earnings. The Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud.

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