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Bank of America Securities Keeps Their Sell Rating on Telefonaktiebolaget LM Ericsson Class B (0O87)

Tipranks - Tipranks - Wed Apr 15, 12:22PM CDT

Bank of America Securities analyst Oliver Wong reiterated a Sell rating on Telefonaktiebolaget LM Ericsson Class B yesterday and set a price target of SEK88.00. The company’s shares closed yesterday at SEK110.70.

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According to TipRanks, Wong is a 2-star analyst with an average return of 26.7% and a 66.67% success rate.

In addition to Bank of America Securities, Telefonaktiebolaget LM Ericsson Class B also received a Sell from Barclays’s Simon Coles in a report issued on April 1. However, on April 12, Kepler Capital maintained a Hold rating on Telefonaktiebolaget LM Ericsson Class B (LSE: 0O87).

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Based on Telefonaktiebolaget LM Ericsson Class B’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of SEK69.29 billion and a net profit of SEK8.56 billion. In comparison, last year the company earned a revenue of SEK72.91 billion and had a net profit of SEK4.78 billion

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