Shares of Telefonaktiebolaget LM Ericsson ERIC have lost 23.5 percent of value since the beginning of the year. However, it seems like the stock is ripe for a rebound – or so does the Vetr crowd seem to believe.
On Friday, the Vetr community decided to upgrade its rating on shares of Ericsson, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
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The rating better reflects the crowd’s average price target of $8.33, which implies an upside potential of almost 13 percent.
It should be noted that, in accordance with the new rating, 80 percent of the crowd’s ratings are bullish.
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