Ericsson: Canaccord Genuity maintains 'hold' rating
(CercleFinance.com) - Canaccord Genuity maintains its "hold" rating on Ericsson, with a target price of 10 dollars, saying that the Swedish group's upbeat meetings are offset by the stock's valuation.
In a note to clients, the Canadian broker notes that at its AGM Ericsson's management team has reiterated the group's successful 2018 in executing its turnaround strategies and reiterated its strong position for 5G.
"We maintain our belief Ericsson has built a solid foundation for continued margin expansion and achievement of their 2020 targets," Canaccord writes in the report.
It also highlights "growing momentum" for 5G, as Ericsson now has 16 announced commercialization deals.
Canaccord also believes that Huawei's troubles could benefit Ericsson.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the Canadian broker notes that at its AGM Ericsson's management team has reiterated the group's successful 2018 in executing its turnaround strategies and reiterated its strong position for 5G.
"We maintain our belief Ericsson has built a solid foundation for continued margin expansion and achievement of their 2020 targets," Canaccord writes in the report.
It also highlights "growing momentum" for 5G, as Ericsson now has 16 announced commercialization deals.
Canaccord also believes that Huawei's troubles could benefit Ericsson.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.