As previously reported, Goldman Sachs analyst Alexander Duval added Ericsson (ERIC) to the firm's Conviction List and reiterated his Buy rating on the stock, citing his view that its fundamentals are solid in Networks, Digital Services and Managed Services but the stock has pulled back by about 5% relative to the others in EU Tech since the company's Q2 report on July 17. He noted that Ericsson trades at a discount to Nokia (NOK) even though, in his view, the former is better positioned to benefit from 5G and potential upside from China vendor share shifts. Duval maintains his $11.50 price target on Ericsson ADRs.