Raymond James analyst Simon Leopold lowered the firm’s price target on Ericsson to $7.50 from $10.50 and keeps an Outperform rating on the shares following the Q4 results. The company’s trends were consistent with expectations, but its profitability was worse than expected, the analyst tells investors in a research note. The firm says Ericsson’s rapid growth and share gains in India did not offset slowing elsewhere and pressured margin. The analyst still sees "strong upside potential" in shares despite near-term risks from inventory digestion and the macro environment.
Published first on TheFly
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