We Still See a Light at The End Of The Tunnel for Ericsson; Maintaining Our $8 FVE
Ericsson’s third-quarter results weren't especially impressive, in our view, but we're encouraged by signs of improvement. The company shrank its labor force for the fifth consecutive quarter in an attempt to offset its seventh consecutive quarter of declining revenue. Ericsson announced a closure of its ICT facility in Canada, which is in line with its overall trend to rightsize the firm pending the potential divestiture of certain businesses and overall weakness in mobile broadband market. Whi...
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