Ericsson was upgraded to Hold from Buy at Jefferies.
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Telecom stocks
Ericsson
and
Nokia
were ticking higher Friday after Jefferies said to buy one and hold the other.
Earlier this week,
AT&T
said it reached a deal with Ericsson to buy up to $14 billion worth of network equipment over five years. The agreement is part of
AT&T’s
effort to build out a commercial-scale open radio access, or RAN, network beginning next year, Barron’s previously reported. Open RAN technology allows telecom companies to create networks using equipment from a variety of suppliers.
In short, this is good news for Ericsson and bad news for
Nokia.
The latter has said AT&T accounts for 5% to 8% of its…
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