‘Downcycle not over.' Nokia, Ericsson shares tumble after downgrades at Barclays.

Investors should pass on shares of Ericsson and Nokia, say Barclays analysts who downgraded both telecom equipment providers, citing unappealing valuations and struggling radio access networks (RAN).The pair were dropped to underweight from neutral, with price targets lowered 15% and 35%, respectively. Shares of Ericsson ERIC, +1.49% ERIC.B, -3.04% fell over 3% and Nokia NOK, +0.58% NOKIA, -2.39% dropped more than 2% locally, with those losses reflected in U.S-listed shares ahead of the market’s open. “Tele ...