1448 GMT - Ericsson should have a slightly better year in 2025 in terms of telecom spending due to an end of the inventory correction at U.S. telecom operators coupled with better Indian spending, JPMorgan analyst Sandeep Deshpande writes. Ericsson shares have performed well in 2024 despite missing estimates in the first half of the year, as the market anticipated the margin improvement seen in the third quarter, he says. JPMorgan's forecasts suggest there may be upside to consensus 2025 sales estimates, but the stock's current valuation premium prevents it from being more constructive on the name. The bank lifts its price target to 98 Swedish kronor from 70.50 kronor and keeps it at neutral. Shares rise 0.8% to 92.16 kronor. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 09:48 ET (14:48 GMT)
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