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Here's What This Analyst Has To Say About SEC Probe On Ericsson

Benzinga · 06/10/2022 06:54
  • Ericsson's (NASDAQ:ERIC) alleged misconduct in Iraq could trigger fines of $100 million to $300 million, Bloomberg quotes from an email by Svenska Handelsbanken analyst Daniel Djurberg.
  • The U.S. SEC initiated a probe into the Ericsson's Iraq connection.
  • Djurberg termed the update as a negative for the share. However, it was no major surprise to the market, Djurberg added, who had a Buy rating on the stock.
  • He expected a resolution within 12 months. "
  • Djurberg expected the outcome of the DOJ/SEC resolution to become a positive future trigger for the share price.
  • Price Action: ERIC shares traded lower by 2.38% at $7.81 in the premarket on the last check Friday.
  • Photo via Wikimedia Commons