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Ericsson could defy European gloom-Barron's

Sweden's Ericsson, the No.1 maker of wireless telecom gear with 38 percent of global market share, is not dependent on its European neighbors and could fair well, according to a June 11 article in Barron's.

business Updated: Jun 11, 2012 17:04 IST

Sweden's Ericsson, the No.1 maker of wireless telecom gear with 38 percent of global market share, is not dependent on its European neighbors and could fair well, according to a June 11 article in Barron's.

Ericsson's largest U.S. customers, wireless carriers such as AT&T and Sprint, have been leading the way deploying Long Term Evolution (LTE), the preferred fourth-generation technology, Barron's said. Ericsson is the leader in LTE, Barron's said.

Last week, Ericsson predicted that half the world will have access to 4G mobile networks by 2017.

The global upgrade to 4G is driven by demand from consumers, whose appetite for mobile communications has not let up despite economic downturns, Barron's said.
Morgan Stanley analyst Ehud Gelblum is bullish on Ericsson, and has an "overweight" rating on the stock. Morgan Stanley has an 84 Swedish crowns ($12.26) target on the Stockholm-traded shares.