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Upgrade Alert for Ericsson (ERIC)
[February 01, 2013]

Upgrade Alert for Ericsson (ERIC)

Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Ericsson (NASDAQ:ERIC) was upgraded from Equal Weight to Overweight at Evercore today. The stock closed yesterday at $11.60 on volume of 20.1 million shares, above average daily volume of 4.5 million. Ericsson share prices have moved between a 52-week high of $15.44 and a 52-week low of $8.23 and closed yesterday at 41% above that low price at $11.60 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 0.3%.

Telefonaktiebolaget LM Ericsson develops and manufactures products for wired and mobile communications in public and private networks. The Company produces mobile telephones through its Sony Ericsson joint venture. Ericsson manufactures and installs wired and wireless communications systems, wireless microwave links, call center equipment, microelectronics, and radar systems.

Ericsson (NASDAQ:ERIC) defies analysts with a current price ($11.60) 8.3% above its average consensus price target of $10.63. The stock should discover initial support at its 50-day moving average (MA) of $9.95 and subsequent support at its 200-day MA of $9.29.

SmarTrend recommended that subscribers consider buying shares of Ericsson on December 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.47. Since that recommendation, shares of Ericsson have risen 22.6%. We continue to monitor ERIC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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