Ericsson: Credit Suisse still a seller

(CercleFinance.com) - Credit Suisse maintains its Underperform rating on Ericsson shares with a target price of 69 Swedish kronor.


The analyst says that capex in the mobile phone sector remains a concern and justifies the continued underperformance, saying "we continue to see better investment opportunities elsewhere within our coverage".

The upcoming CMD on 15 December will be key for Credit Suisse, "where we expect colour on demand drivers by division, restructuring and cost control efforts and mid-term margin targets".

For the analyst, the spike in wireless capex will be a drag on growth until it is clear when wireless capex stabilises.


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