Ericsson ERIC recently announced that it has been chosen by Tigo Senegal in a three-year deal to modernize the latter’s network and drive digitization in the developing Senegalese market. The Swedish firm continues to enhance its rich legacy of enabling communications service providers to upgrade networks by offering a state-of-the-art infrastructure for better speed and capacity.
Ericsson is believed to be the world’s largest supplier of LTE technology with a significant market share. It has also established a large number of LTE networks worldwide. This latest deal entails more than 1,000 existing sites including the Ericsson Radio System technology, roll out of LTE and augmenting Tigo's mobile backhaul network with Ericsson's MINI-LINK.
Ericsson's superior LTE solutions will help secure Tigo's network performance and quality while delivering a differentiated experience to subscribers. The company will provide Cloud Packet Core and Cloud Data Management and Policy solutions for modernizing Tigo's core network while minimizing operating expenses at the same time.
Ericsson is also focusing on 5G system development and has undertaken notable measures to lead the market in terms of 5G. The company believes that standardization of 5G is the cornerstone for digitization of industries and thus, it continues to execute its focused strategy with investments in its competitive 5G-ready portfolio for aiding customers to seamlessly migrate to 5G.
The stock has returned 31.4% in the past year, outperforming the industry’s 3.4% rise.
Ericsson currently sports a Zacks Rank #1 (Strong Buy). A few other top-ranked stocks in the industry are QUALCOMM Inc. QCOM, Ubiquiti Networks, Inc. UBNT and Juniper Networks, Inc. JNPR. While Qualcomm and Ubiquiti carry a Zacks Rank of 1, Juniper has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Qualcomm has a long-term earnings growth expectation of 11.5%. The metric beat estimates in the last four reported quarters, the average being 18.5%.
Ubiquiti’s expected long-term earnings growth rate is pegged at 14%. The company’s earnings surpassed estimates in three of the trailing four reported quarters, the average positive surprise being 11.3%.
Juniper’s projected long-term earnings growth stands at 5.3%. The company’s earnings topped estimates in each of the preceding four reported quarters, the average being 11%.
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