Piper Jaffray Cuts Price Target on Ericsson (ERIC) to $26

November 20, 2007 3:14 PM EST
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Price: $5.87 +0.86%

Rating Summary:
    9 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Piper Jaffray lowered its price target on Ericsson (Nasdaq: ERIC) from $33 to $26, maintaining is Neutral rating.

The firm noted, "At an analyst event today, management lowered its previous disappointing Q407 guidance to the low-end of the range due to weaker trends in the North American and Western European markets, political unrest in emerging markets, and the further decline in the US dollar."

Ericsson is 12% lower to $25.14.

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