Network giants Nokia and Ericsson are both releasing their earnings reports this week. Ericsson will report its financial statements tomorrow Tuesday, while Nokia’s turn is on Thursday.
Barclays has lowered both the target prices and recommendations for Ericsson’s and Nokia’s shares. The rating for both stocks was reduced to a ‘sell’ level while the target prices dropped by 15 percent and 35 percent respectively, as reported by MarketWatch.
Barclays’ target price for Nokia’s share is now three euros instead of the previous €4.60, and for Ericsson’s share, 55 Swedish krona down from the previous 65 krona.
According to Barclays, the valuations of these shares are not attractive, and ran-networks are struggling.
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