Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) had its price objective lifted by JPMorgan Chase & Co. from $5.90 to $6.70 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 20.52% from the company’s current price.
Separately, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and a consensus target price of $6.70.
Check Out Our Latest Research Report on ERIC
Telefonaktiebolaget LM Ericsson (publ) Stock Performance
Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)
Several institutional investors have recently bought and sold shares of ERIC. GAMMA Investing LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 3,101 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at approximately $36,000. BOKF NA purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $41,000. Hexagon Capital Partners LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 3,924 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.
Telefonaktiebolaget LM Ericsson (publ) Company Profile
Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.
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