Time To Sell Ericsson (NASDAQ:ERIC)? Citigroup Downgrades Shares Today

February 15, 2018 - By Vivian Park

 Time To Sell Ericsson (NASDAQ:ERIC)? Citigroup Downgrades Shares Today

Ericsson (NASDAQ:ERIC) Receives a Downgrade

Citigroup has decided to issue a report indicating that Ericsson (NASDAQ:ERIC) shares are now a ‘Hold’ in a research report released on Thursday, 9 November.

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. The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:publ) has “Hold” rating given on Tuesday, July 18 by Canaccord Genuity. The firm has “Sell” rating given on Thursday, January 21 by Goldman Sachs. As per Thursday, August 27, the company rating was upgraded by Danske Bank. The rating was upgraded by Danske Bank on Thursday, December 15 to “Buy”. Wells Fargo initiated the stock with “Market Perform” rating in Friday, March 11 report. The firm has “Hold” rating given on Monday, October 23 by Canaccord Genuity. The stock has “Neutral” rating by Goldman Sachs on Tuesday, June 21. Credit Suisse downgraded the stock to “Sell” rating in Tuesday, October 3 report. On Thursday, November 9 the stock rating was downgraded by Citigroup to “Hold”. The firm earned “Equal Weight” rating on Wednesday, July 6 by Barclays Capital.

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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