Zacks Investment Research upgraded shares of Ericsson (ERIC) from NEUTRAL to OUTPERFORM on July 08, 2013, with a target price of $14.00.
Ericsson is a leading provider of communication networks, telecom services and support solutions. We have upgraded on recommendation on Ericsson from Neutral to Outperform with a target price of $14. High demand for 4G/LTE networks, increasing mobile broadband services driven by rapid surge in the usage of smartphones have been driving growth factors for Ericsson during the second quarter of 2013. In the last reported quarter, Ericsson reported revenue growth across all operating segments. In addition, the company has been focusing on growing its presence in the TV and media segment, for which Ericsson also has completed strategic acquisitions.
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