Telefonaktiebolaget LM Ericsson (ERIC) Price

Mr. E. Boerje Ekholm is the President of Telefonaktiebolaget LM Ericsson, joining the firm since 2006.

The current price of ERIC is $8.07, it has increased 0.06% in the last trading day.

Telefonaktiebolaget LM Ericsson belongs to Communications industry and the sector is Information Technology

Telefonaktiebolaget LM Ericsson's current market cap is $24.7B

According to wall street analysts, 24 analysts have made analyst ratings for Telefonaktiebolaget LM Ericsson, including 2 strong buy, 3 buy, 13 hold, 8 sell, and 2 strong sell

Checking charts on a Saturday, anon? A true degen. Ericsson's recent upward drift is fueled by a mix of bullish technical signals and positive news flow around its 5G technology deployments. However, the stock is currently pushing against a key resistance level, and the overall analyst sentiment remains cautiously neutral, suggesting this rally might face a test.

Here’s the alpha on what’s driving the price action for ERIC.

1. The Technical Picture: Bullish Momentum is Building

The daily chart is showing signs of strength, which likely caught your eye.

• Key Moving Averages: The price at ~$8.07 has recently crossed above its 200-day Moving Average ($8.05) and is comfortably above its 50-day MA ($7.69). This is a classic bullish signal for many traders, indicating a potential shift in the long-term trend.
• Momentum Indicators: The daily Relative Strength Index (RSI) is at a healthy 60.8, showing strong buying pressure without being in overbought territory yet. The MACD indicator is also bullish, with the MACD line above its signal line and a positive histogram, confirming the upward momentum.
• Key Levels to Watch: The stock is currently flirting with a resistance level around $8.16. A decisive break and hold above this price could open the door to the next target near $8.54, which also happens to be the mean analyst price target. On the downside, initial support sits near the 200-day MA (~$8.05) and a more solid floor is at $7.90.

2. News & Fundamental Catalysts: A Mixed Bag

Recent news provides both tailwinds and headwinds for the stock.

• Positive Developments: Ericsson has been executing on its 5G strategy. The company was recently named a "pioneer" in 5G network slicing innovation and announced a successful deployment of a private 5G network for a state-of-the-art Hitachi Rail factory. These announcements reinforce its position as a key player in the 5G infrastructure rollout.
• Cost-Cutting Measures: The company also announced layoffs of about 100 employees in Canada to reduce costs. While unfortunate for those affected, markets often react neutrally or positively to such measures as they can improve profit margins.

3. Analyst & Market Sentiment: The Reality Check

While the chart looks promising, Wall Street analysts are not fully convinced.

• Neutral Consensus: The overall analyst recommendation is "NEUTRAL". Out of 24 analysts, 13 rate the stock a "Hold," while 10 have a "Sell" or "Strong Sell" rating. Only 5 recommend a "Buy" or "Strong Buy". This suggests that the professional community sees limited upside or lingering risks.
• Price Target: The mean analyst price target is $8.53. This implies a potential upside of only about 5-6% from the current price, which isn't exactly a signal for a massive rally.

It's a classic standoff between a bullish chart and a lukewarm analyst sentiment. Watch for a clean break of that $8.16 resistance before you get too excited, bro.