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Ericsson -1.1% as Carnegie cuts to Sell

Published 09/21/2017, 11:06 AM
© Reuters.  Ericsson -1.1% as Carnegie cuts to Sell
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  • Ericsson (NASDAQ:ERIC) is 1.1% lower in U.S. trading today following a downgrade to Sell from Carnegie, which says a rollout of 5G technology won't provide enough of a lift to the company's revenue base.
  • The company has more restructuring charges ahead, and Carnegie has a muted view on operator spending, R&D investment and a continuing tough competitive environment.
  • Carnegie has cut EPS estimates for the next two years by 51% and 31% respectively, and has trimmed its price target to 39 kroner from 53 kroner (now implying 12% downside from current pricing). (h/t Bloomberg)
  • Now read: Qualcomm (NASDAQ:QCOM) Reveals More Details About Its Server Processor


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