Ericsson: Oddo BHF still a seller, but raises TP
(CercleFinance.com) - Oddo BHF maintains its 'underperform' rating on Ericsson following its quarterly publication last Friday, but raises its target price from SEK 51 to SEK 55, after raising estimates by an average of 3% over 2024-25.
According to the analyst, the positive impact of the O-RAN contract with AT&T in the US will not fully offset the continued deceleration in Europe, the sharp fall in the Indian market, and competition from Chinese equipment manufacturers in LatAm.
The analyst also points to the persistence of the enterprise division's commercial difficulties and conflicts with the US Department of Justice, as well as a valuation that he does not consider sufficiently attractive given the current context.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
According to the analyst, the positive impact of the O-RAN contract with AT&T in the US will not fully offset the continued deceleration in Europe, the sharp fall in the Indian market, and competition from Chinese equipment manufacturers in LatAm.
The analyst also points to the persistence of the enterprise division's commercial difficulties and conflicts with the US Department of Justice, as well as a valuation that he does not consider sufficiently attractive given the current context.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.