Although 2006 will not be a good year financially for Nortel, maybe the time is right to jump before CEO Mike Zafirovski's overhaul starts to bear fruit. In a research report, TD Newcrest analyst Chris Umiastowksi said "Nortel is probably a good investment for those with an investment horizon of at least one year". He rates the stock a "buy" with a 12-month target price of US$3. "We believe that Nortel is suitable for longer-term investors who are likely to look beyond 2007 and believe that Mike Zafirovski is taking the necessary steps to fix Nortel," Umiastowski said.
Time to Jump In?
Although 2006 will not be a good year financially for Nortel, maybe the time is right to jump before CEO Mike Zafirovski's overhaul starts to bear fruit. In a research report, TD Newcrest analyst Chris Umiastowksi said "Nortel is probably a good investment for those with an investment horizon of at least one year". He rates the stock a "buy" with a 12-month target price of US$3. "We believe that Nortel is suitable for longer-term investors who are likely to look beyond 2007 and believe that Mike Zafirovski is taking the necessary steps to fix Nortel," Umiastowski said.