Canaccord Genuity Maintains a 'Hold' on Ericsson (ERIC); Raising PT and Estimates
Tweet
Share
E-mailGet Alerts ERIC Hot Sheet
Price: $10.22 +1.09%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Hold' on Ericsson (NASDAQ: ERIC) price target raised from $8.50 to $10.00.
Analyst, T. Michael Walkley, said, "Ericsson posted Q1/2012 results slightly above our and consensus estimates, as better-than-anticipated gross margin offset slightly lower sales than our expectations. Based on Ericsson’s ongoing restructuring plans and operating expense controls combined with our higher gross margin assumptions, we are increasing our estimates." (2012 pro forma EPS estimate from $0.52 (SEK 3.54) to $0.56 (SEK 3.76) and 2013 estimate from $0.77 (SEK 5.23) to $0.82 (SEK 5.47))
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 $9.54 yesterday.
Analyst, T. Michael Walkley, said, "Ericsson posted Q1/2012 results slightly above our and consensus estimates, as better-than-anticipated gross margin offset slightly lower sales than our expectations. Based on Ericsson’s ongoing restructuring plans and operating expense controls combined with our higher gross margin assumptions, we are increasing our estimates." (2012 pro forma EPS estimate from $0.52 (SEK 3.54) to $0.56 (SEK 3.76) and 2013 estimate from $0.77 (SEK 5.23) to $0.82 (SEK 5.47))
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 $9.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- OPT Machine Vision Tech Co Ltd (688686:CH) PT Raised to RMB147.60 at Macquarie
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
