Ericsson: UBS ups target price after 'good momentum'

(CercleFinance.com) - UBS has raised its target price for the Swedish telecom gear maker Ericsson, citing the share's good short-term momentum.


The broker has therefore raised its target price from 72 Swedish kronor to 85 Swedish kronor, it said in a note.

However, many of the stock's drivers over the last 12 months are now running their course and much is priced in, UBS added, reiterating its "neutral" rating on the stock.

The Ericsson share is currently down 0.3% at 86.7 Swedish kronor. The stock has risen by almost 10% over the last three months.

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