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Michelle Calpin Ericsson LM Telephone ERIC-Q DON'T BUY Apr 22, 2002

Prefers Nokia. Questions visibilty and their need to issue more shares.

Michelle Calpin

Unknown

Unlock Rating

$2.740

Stock price when the opinion was issued

Telecommunications

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DON'T BUY

A critical player in 5G. However, he has found better opportunities elsewhere. It could still have some run, but he would prefer tower companies or US telecoms. They have disappointed in the past.

TOP PICK

Along with Nokia, an alternative to Huawei. Just rolled out 5G in Slovenia. Tons of investment opportunity in the sector. Yield is 0.64%. (Analysts’ price target is $12.13)

DON'T BUY

Up from its lows. He stays away from hardware producers, as it's hard to differentiate products except for Apple. Issue of timing. Huawei is still a serious player. Hardware is traditionally a hard business to make money in.

TOP PICK

One of the highest spend areas around the world is the cloud. Still has significant upside. King of 5G deployment. Getting traction around the world. Buy some here around $11.70, and then add to at $11, and at 10.25. Yield is 0.72%. (Analysts’ price target is $13.88)

PAST TOP PICK

(A Top Pick Sep 02/20, Up 15%) A play on the 5G roll-out. When he bought this, there were issues with Huawei. ERIC will be in a position to win more 5G contracts, and 5G is in its infancy. Maybe it's not his first pick in this space now, but definitely hold it if you own it.

BUY

Global leader. In his bullpen of names to look at. Poised to benefit from 5G rollout with a very competitive product. Set for free cashflow acceleration over the next few years. Trades at below market multiple. High quality name.

DON'T BUY

Europe was more advanced than Canada until 2000s in terms of telecommunications. Now that Europe has lowered the cost of consumer phones, there was a lull and under investment in the network in Europe. There will be continuing development with towers for wireless activities and 5G. Political concerns with Huawei will help Ericsson. Optical equipment grow quickly and then stagnates.

PAST TOP PICK

(A Top Pick Sep 02/20, Down 1%) Got out of it in the high $13s 6 months ago. There was a dip a couple months ago. Still believes in the 5G space. Not something that is a long term hold.

PAST TOP PICK

(A Top Pick Dec 23/20, Down 5%) The leader in 5G growth. 3 players in 5G, and between NOKIA and ERIC, he chooses ERIC. A big deal for telcos to drive revenue growth. 12-month price target of $14.75. Buy in thirds here at $10.95, 10.50, and 10.

DON'T BUY

It spent a lot on 5G and it will take several years to realize the return on this. The company has been disappointing.

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Michelle Calpin Ericsson LM Telephone ERIC-Q DON'T BUY Apr 22, 2002

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