Ericsson : Situation not set to improve in the short term, raises questions about the credibility of the 2024 guidance
>Underperform rating reiterated, target price lowered to SEK 50 vs SEK 55 - Following the publication of Q1 2023 results, we lower our EPS estimates for 2023-2024 by an average of 8% and cut our target price to SEK 50 vs SEK 55. While we (and the consensus) thought that Q1 might be the low point, Q2 2023 is set to be more complicated than expected in terms of both growth and profitability. The group continues to have to contend with 1/ ongoing reductions in stocks at ...Ericsson provides communications technology and services. Co.'s services, software and infrastructure – especially in mobility, broadband and the cloud – enable the telecom industry and other sectors to do business, increase efficiency, improve the user experience and capture new opportunities. Co. has more than 110,000 professionals and customers in more than 180 countries. Co. provides support for networks with more than 2.5 billion subscribers. Co.'s core business areas are called Radio, Core and Transmission and Telecom Services. Co. divides its operations into three business segments: Networks, Global Services and Support Solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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