Wed Sep 25 03:18:51 UTC 2024: ## Ericsson Upgraded to “Strong-Buy” by StockNews.com, Despite Recent Earnings Miss

**Stockholm, Sweden –** Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC), the Swedish telecommunications equipment provider, received a boost on Tuesday after StockNews.com upgraded its rating from “buy” to “strong-buy.” This comes amidst a mixed sentiment from analysts, with JPMorgan Chase & Co. maintaining a “neutral” rating but raising their price target to $5.90.

Ericsson’s recent quarterly earnings report, released on July 12th, showed the company missed analysts’ expectations, reporting $0.01 earnings per share (EPS) against an estimated $0.05. Despite this miss, the company’s revenue came in at $5.60 billion, exceeding the estimated $5.29 billion.

Overall, analysts remain divided on Ericsson’s future prospects, with two assigning “sell” ratings, one “hold,” one “buy,” and one “strong-buy.” Based on data from MarketBeat, the company currently holds an average “Hold” rating with an average target price of $5.90.

Despite the mixed analyst sentiment, recent investor activity suggests growing confidence in Ericsson. Several hedge funds, including Mercer Global Advisors Inc., Profund Advisors LLC, DORCHESTER WEALTH MANAGEMENT Co, Dynamic Advisor Solutions LLC, and First Affirmative Financial Network, increased their stakes in the company during the last quarter. This signifies their belief in Ericsson’s potential for growth.

Ericsson, a global leader in mobile connectivity solutions, operates in four segments: Networks, Cloud Software and Services, Enterprise, and Other. It serves both telecom operators and enterprise customers in various sectors across the world.

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