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To: 2MAR$ who wrote (56764)	6/10/2002 4:49:29 AM
From: 2MAR$	Respond to of 208838

RESEARCH ALERT-JP Morgan raises Ericsson <ERICb.ST> LONDON, June 10 (Reuters) - Investment bank JP Morgan Securities on Monday raised its rating on the stock of Swedish telecommunications equipment maker Ericsson to "market perform" from "market underperform," and reiterated its 20 Swedish crown/$1.90 price target. "Ericsson has gone through the eye of the industry cataclysm and the stock price is now reflecting this," JP Morgan said in a note. "We do believe value is emerging in this business, but struggle to justify a more positive recommendation today ahead of what we consider to be a badly managed rights issue (that we believe will likely see more downward pressure on the stock price) and without any real move having been made to present a compelling plan to the market," the bank added. The stock was up three percent at 19.7 crowns, helped in early trade also by news that one of its two biggest owners, investment group Investor AB <INVEb.ST>, had bought more shares in the loss-making firm ahead of Ericsson's planned rights issue. ((European stock market team, +44-20-7542-3209, huw.jones@reuters.com))