Deutsche Bank Upgrades Ericsson (ERIC) to Buy

January 29, 2013 7:17 AM EST Send to a Friend
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Price: $12.93 +0.31%

Rating Summary:
    15 Buy, 11 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Deutsche Bank upgraded Ericsson (NASDAQ: ERIC) from Hold to Buy and raises its price target from SEK61 to SEK80.

The firm comments, "We believe Ericsson will enter a period of improving margins due to slowing low-margin network rollouts in Europe and a gradual shift to high-margin LTE capacity additions in the US. With carrier Capex likely improving in the US and Emerging Markets we also see Ericsson's networks revenues returning to growth.
Coupled with an expected ST-Ericsson exit in H213, we see Ericsson's clean EPS recovering by >50% by 2014 and following >30% sector underperformance in 2012 we upgrade from Hold to Buy."

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

Shares of Ericsson closed at $10.84 yesterday.

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