Nomura Securities maintains a 'Buy' on Ericsson (ERIC); Positive on Deal with Sony

Nomura Securities maintains a 'Buy' on Ericsson (NASDAQ: ERIC) price target of SEK83.

Nomura analyst, Stuart Jeffrey, said, "Ericsson and Sony (NYSE: SNE) announced that the latter was buying the former’s 50% stake in Sony Ericsson this morning. We view this deal as positive for Ericsson, but do not see it affecting valuation. For the broader industry we see a risk that Sony revitalises the business once integrated with its computing and entertainment units, but this results in short-term dislocation if Sony chooses to move the company’s HQ from London back to Japan."

For more ratings news on Ericsson click here and for the rating history of Ericsson click here.

Shares of Ericsson closed at $10.24 yesterday.

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