Ericsson: shares up after Morgan Stanley starts coverage
(CercleFinance.com) - Ericsson shares are up over 3% on Friday after Morgan Stanley initiated its coverage of the stock with a positive rating, saying that the Swedish telecom gear maker is "ready to play.
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The brokerage firm started to cover the share with an "overweight" rating and a target price of 110 Swedish kronor, as excitement is building up over 5G.
After taking a fresh look at European telecom equipment makers, Morgan Stanley said it sees two stocks "at opposite ends" of their respective restructuring projects.
"We believe Ericsson has an opportunity to press the advantage vs Nokia given 5G cost issues," it wrote in a note.
The Ericsson share was up 3.1% at 87.4 Swedish kronor in Stockholm after these comments.
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.
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The brokerage firm started to cover the share with an "overweight" rating and a target price of 110 Swedish kronor, as excitement is building up over 5G.
After taking a fresh look at European telecom equipment makers, Morgan Stanley said it sees two stocks "at opposite ends" of their respective restructuring projects.
"We believe Ericsson has an opportunity to press the advantage vs Nokia given 5G cost issues," it wrote in a note.
The Ericsson share was up 3.1% at 87.4 Swedish kronor in Stockholm after these comments.
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.