- (PLX AI) - Ericsson fell another 2% in early trading after being the worst performer in STOXX 600 on Friday despite a wave of analysts maintaining their buy recommendations on the stock.
- • Ericsson missed revenue estimates on Friday after a sales decline in Mainland China
- • But growth should reaccelerate as US carriers launch 5G networks on recently acquired spectrum and momentum continues in Europe, which will only begin ramping up next year, and where Ericsson is taking market share from Huawei and Nokia, Bank of America said, reiterating a buy recommendation (price target of SEK 145)
- • Ericsson still managed to grow organically in Q2 despite China declining more than 60%, and is gaining market share even in countries where Huawei is allowed to compete, such as Malaysia, Nordea said, reiterating a buy rating (price target SEK 133)
- • Ericsson should have healthy growth in all regions except China, SEB said, reiterating buy (price target SEK 140)
- • Ericsson is on the right track to reach its margin target of 12-14% for 2022, Kepler Cheuvreux said
- • The outlook outside China remains positive, the broker said, maintaining a buy rating (price target SEK 130)