In a report released yesterday, Sandeep Deshpande from J.P. Morgan maintained a Buy rating on Telefonaktiebolaget LM Ericsson (ERIC – Research Report), with a price target of $11.80. The company’s shares closed yesterday at $6.48.
Deshpande covers the Technology sector, focusing on stocks such as Infineon Technologies AG, Adyen, and ASML Holding. According to TipRanks, Deshpande has an average return of 9.9% and a 48.82% success rate on recommended stocks.
Currently, the analyst consensus on Telefonaktiebolaget LM Ericsson is a Moderate Buy with an average price target of $11.80.
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Based on Telefonaktiebolaget LM Ericsson’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $62.47 billion and a net profit of $4.5 billion. In comparison, last year the company earned a revenue of $54.94 billion and had a net profit of $3.68 billion
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Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, develops and manufactures communication network equipment, and provides telecom services and support solutions. The Company’s portfolio includes products for the enterprise, mobile platform, cable, and power module markets.
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