(News Bulletin 247) – Barclays on Monday downgraded its advice on the Ericsson stock, reduced from ‘overweight’ to ‘weight in line’ with a price target lowered from 60 to 55 Swedish crowns.
In a research note, analysts at the British bank highlight an environment that has become ‘more difficult’ for telecom equipment manufacturers, confirmed according to them by the recent warning from Nokia.
“We feel that we are benefiting from less visibility as to a possible recovery in activity during the second half of the financial year,” explains Barclays.
“We no longer expect a significant recovery in spending (by operators, editor’s note) in the United States during the second part of the year and only envisage a timid improvement in 2024”, continues the London establishment.
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