Telefonaktiebolaget LM Ericsson (ERIC) Received its Third Buy in a Row
After Raymond James and Cowen & Co. gave Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) a Buy rating last month, the company received another Buy, this time from Charter Equity. Analyst Edward F. Snyder maintained a Buy rating on Telefonaktiebolaget LM Ericsson yesterday. The company’s shares closed last Thursday at $14.09, close to its 52-week high of $15.32.
According to TipRanks.com, Snyder is a 5-star analyst with an average return of 28.3% and a 72.7% success rate. Snyder covers the Technology sector, focusing on stocks such as Skyworks Solutions, Qualcomm, and Broadcom.
Telefonaktiebolaget LM Ericsson has an analyst consensus of Strong Buy, with a price target consensus of $17.17, implying a 21.7% upside from current levels. In a report issued on April 6, Raymond James also maintained a Buy rating on the stock with a $15.00 price target.
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Telefonaktiebolaget LM Ericsson’s market cap is currently $47.81B and has a P/E ratio of 21.90. The company has a Price to Book ratio of 8.76.
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Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, develops and manufactures communication network equipment, and provides telecom services and support solutions. The Company’s portfolio includes products for the enterprise, mobile platform, cable, and power module markets.