Goldman Sachs Upgrades Ericsson (ERIC) to Conviction Buy

February 1, 2013 1:05 PM EST Send to a Friend
Get Alerts ERIC Hot Sheet
Price: $12.77 +0.16%

Rating Summary:
    16 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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Earlier, Goldman Sachs upgraded Ericsson (NASDAQ: ERIC) from Neutral to Conviction Buy with a $16.50 price target.

The firm said following almost 30% underperformance versus their EU Tech coverage over 24 months, they see substantial mean-reversion potential for the stock.

"We think 4Q marked only the first quarter of a number of potential upside surprises," the firm said. "We believe a material sales mix shift towards Network Software in 2013/14 after market share gains in mobile network equipment in 2011/12 is likely to allow continued operational gearing that is not reflected in current valuations."

For an analyst ratings summary and ratings history on Ericsson click here. For more ratings news on Ericsson click here.

Shares of Ericsson are up 4.5 percent to $12.13




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