Ericsson Upgraded From Sell To Strong Buy At Vetr

Shares of Telefonaktiebolaget LM Ericsson ERIC have lost almost 22 percent year-to-date, but most of the losses (21.3 percent) were realized over the past three months. Following such a decline, the Vetr crowd seems to believe some room for upside has been unlocked, as suggested by its average price target of $9.43, which implies a potential return of roughly 24.5 percent.

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Seeking to better reflect this upside potential, the Vetr community decided to upgrade its rating on Ericsson’s stock on Friday, from 2.5 Stars (Sell) to 5.0 Stars (Strong Buy) - out of a possible 5.0 Stars rating.

Finally, it should be noted that 75 percent of the crowd's ratings are bullish at the time.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above