In the wake of the Nortel's conference call yesterday, RBC Capital Markets analyst Mark Sue has lowered his target price to $3.50 from $4.00, as well as reducing his estimates. He's now looking for 2006 EPS of 4 cents rather than 12 cents, and 2007 EPS of 13 cents rather than 18 cents. "An investment in Nortel may only be suited for long-term investors," Sue said, while keeping his rating on Nortel as "sector perform".
RBC’s Mark Sue Lowers Target Price
In the wake of the Nortel's conference call yesterday, RBC Capital Markets analyst Mark Sue has lowered his target price to $3.50 from $4.00, as well as reducing his estimates. He's now looking for 2006 EPS of 4 cents rather than 12 cents, and 2007 EPS of 13 cents rather than 18 cents. "An investment in Nortel may only be suited for long-term investors," Sue said, while keeping his rating on Nortel as "sector perform".