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Telefonaktiebolaget LM Ericsson (ERIC): New Buy Recommendation for This Technology Giant

Raymond James analyst Simon Leopold maintained a Buy rating on Telefonaktiebolaget LM Ericsson (ERICResearch Report) today and set a price target of $12.00. The company’s shares closed last Thursday at $6.80, close to its 52-week low of $6.68.

According to TipRanks.com, Leopold is a 5-star analyst with an average return of 7.2% and a 54.5% success rate. Leopold covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Dell Technologies, and Cambium Networks.

Telefonaktiebolaget LM Ericsson has an analyst consensus of Moderate Buy, with a price target consensus of $13.50.

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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 $55.06 billion and net profit of $2.94 billion. In comparison, last year the company earned revenue of $49.78 billion and had a net profit of $3.19 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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