Wedbush Morgan Initiates Coverage on Ericsson (ERIC) with a Buy
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Wedbush Morgan initiates coverage on Ericsson (Nasdaq: ERIC) with a Buy. Price target $11.50.
Wedbush analyst says, "We think the secular position of Ericsson in an industry segment that is finding new revenue from the consumer (data), as well as new consumers (developing countries) will benefit from a multiple associated with further shift in network wallet share towards mobile wireless as an access technology for data. Despite the broader economy, carriers are seeing positive growth trends associated with data and smartphone. We believe this will be extended with higher speed services coming on line now, as well as increasing volume of netbooks and laptops that will be delivered network-ready for 3G and 4G. We believe demand for more efficient infrastructure will extend the company’s
growth prospects. The price per bit for data is much lower than voice and carriers must deploy infrastructure that can scale capacity to deliver it cost effectively."
"Though we believe Huawei and ZTE have replaced Motorola (NYSE: MOT) and Nortel (NYSE: NT) as strategic competitors, along with Alcatel Lucent, expansion in developing countries and recent carrier announcements have solidified the role of Ericsson as the industry leader."
To see more analyst ratings on ERIC Click Here.
Telefonaktiebolaget LM Ericsson (Ericsson) is a supplier of network equipment and related services to telecom operators. The Company offers a portfolio of telecommunication and data communication systems, multimedia solutions and professional services, covering a range of technologies.
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