In a report released yesterday, Simon Leopold from Raymond James maintained a Buy rating on Telefonaktiebolaget LM Ericsson (ERIC). The company’s shares closed last Tuesday at $13.14.
According to TipRanks.com, Leopold is a 4-star analyst with an average return of 9.9% and a 61.0% success rate. Leopold covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Applied Optoelectronics, and CommScope Holding.
Currently, the analyst consensus on Telefonaktiebolaget LM Ericsson is a Strong Buy with an average price target of $19.00.
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Based on Telefonaktiebolaget LM Ericsson’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $49.78 billion and net profit of $3.19 billion. In comparison, last year the company earned revenue of $49.75 billion and had a net profit of $2.16 billion.
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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.
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