TMCNet:  Upgrade Alert for Ericsson (ERIC)

[December 03, 2012]

Upgrade Alert for Ericsson (ERIC)

Dec 03, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Ericsson (NASDAQ:ERIC) was upgraded from Sector Perform to Outperform at RBC Capital today. The stock closed yesterday at $9.39 on volume of 5.4 million shares, above average daily volume of 3.7 million. Telefonaktiebolaget LM Ericsson develops and manufactures products for wired and mobile communications in public and private networks. The Company produces mobile telephones through its Sony Ericsson joint venture. Ericsson manufactures and installs wired and wireless communications systems, wireless microwave links, call center equipment, microelectronics, and radar systems.


There is potential upside of 0.8% for shares of Ericsson based on a current price of $9.39 and an average consensus analyst price target of $9.47. Ericsson shares have support at the 200-day moving average (MA) of $9.25 and additional support at the 50-day MA of $8.99.

Ericsson share prices have moved between a 52-week high of $15.44 and a 52-week low of $8.23 and closed yesterday at 14% above that low price at $9.39 per share. The 200-day and 50-day moving averages have moved 0.05% lower and 0.12% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Ericsson and will alert subscribers who have ERIC in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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