http://www.allaboutnortel.com/2006/02/01/nortel-huawei-joint-venture/ All the News about Nortel Networks Thu, 09 Feb 2012 03:34:00 +0000 hourly 1 http://www.allaboutnortel.com/2006/02/01/nortel-huawei-joint-venture/comment-page-1/#comment-11 All Nortel, All the Time » Blog Archive » Nortel Downgraded by CitiGroup Tue, 07 Feb 2006 02:10:00 +0000 http://allaboutnortel.com/?p=44#comment-11 [...] It appears not all analysts are ready to jump on the Nortel bandwagon. Citigroup has lowered its rating on Nortel to "hold" from "buy", while reducing its target price to $3.20 from $4. The brokerage firm said the downgrade is due to Nortel’s lack of exposure to the access equipment market (something they are trying to address through a recent joint venture signed with Huawei) and slightly higher cost estimates because of delays in the transfer of manufacturing operations to Flextronics International. Citigroup also believes new CEO Mike Zafirovski may want to re-evaluate Nortel’s restructuring plans.  The Globe & Mail has a story about how Mike Z. has been bolstering his executive team over the past few months by tapping former GE colleagues. [...] [...] It appears not all analysts are ready to jump on the Nortel bandwagon. Citigroup has lowered its rating on Nortel to "hold" from "buy", while reducing its target price to $3.20 from $4. The brokerage firm said the downgrade is due to Nortel’s lack of exposure to the access equipment market (something they are trying to address through a recent joint venture signed with Huawei) and slightly higher cost estimates because of delays in the transfer of manufacturing operations to Flextronics International. Citigroup also believes new CEO Mike Zafirovski may want to re-evaluate Nortel’s restructuring plans.  The Globe & Mail has a story about how Mike Z. has been bolstering his executive team over the past few months by tapping former GE colleagues. [...]

]]> http://www.allaboutnortel.com/2006/02/01/nortel-huawei-joint-venture/comment-page-1/#comment-10 Rob Hyndman Wed, 01 Feb 2006 13:50:03 +0000 http://allaboutnortel.com/?p=44#comment-10 Very interesting - and a nice shot in the arm for Ottawa, too. Very interesting – and a nice shot in the arm for Ottawa, too.

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