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Ericsson: probably on a good trajectory, Bernstein says.

(CercleFinance.com) - Bernstein maintains its "outperform" rating on Ericsson following an "eventful" third quarter earnings report from the Swedish telecom equipment maker.

The brokerage firm maintains its target price of 80 Swedish kronor for the stock, saying that the company is now "probably on a good trajectory."

"Management will be able to show progress on easy wins (managed services, network margins, and revenue stabilisation) and investors might start pricing in longer term potential," Bernstein says.

The broker also cites resorbing losses in IT and cloud, along with the prospect of a recovery in revenues.

"We favour the stock on the near-term," Bernstein writes in a note also dedicated to Finnish competitor Nokia.

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