Ericsson (ERIC) PT Raised to $10 at Raymond James

June 22, 2020 7:20 AM EDT
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Price: $11.31 -2.58%

Rating Summary:
    14 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Raymond James analyst Simon Leopold raised the price target on Ericsson (NASDAQ: ERIC) to $10.00 (from $9.00) while maintaining an Outperform rating.

The analyst commented, "We maintain an Outperform rating on Ericsson following several model adjustments, and we have increased our price target to $10. On the surface, the top line and bottom line estimates do not change dramatically, but in between, we made a series of adjustments that we believe improve the quality of our model. Further, we extended estimates into 2022, and express comfort that Ericsson can achieve its stated operating margin target of 12-14%. In the near term, China 5G presents a sales tailwind and margin headwind. Over the longer term, we see upside coming from the Digital Services segment."

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