Ericsson cut to equal-weight by Barclays after warning
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Dow Jones
Ericsson (ERIC-B.SK) was downgraded to equal-weight from overweight by Barclays, which kept its equal-weight rating on Nokia (NOKIA.HE), following warnings from both on Friday. "We see little reason why operators will spend more before 2025E at the earliest. Thus we expect the market backdrop to remain tough for Ericsson and Nokia," the analysts said. Barclays cut its Ericsson target by 19% to SEK65 and its Nokia target by 2% to EUR4.70.
-Steve Goldstein
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07-17-23 0543ET
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