A theme among analysts in the wake of Nortel’s third-quarter results is frustration/impatience with the pace of change of the company’s restructuring. Earlier this week, TD Securities cited this issue as a key factor in a decision to reduce its rating to "hold" from "buy" and its target price from $3 to $2.50. CIBC World Marketing analysts Ittai Kidron jumps on the bandwagon by describing Nortel as a "turtle in a rabbit race". He believes the company should keep its Metro Ethernet and VoIP units but sell everything else "while they have value". Source: Globe & Mail. Tags: Nortel Networks, Metro Ethernet, VoIP
Analysts Getting Frustrated
A theme among analysts in the wake of Nortel’s third-quarter results is frustration/impatience with the pace of change of the company’s restructuring. Earlier this week, TD Securities cited this issue as a key factor in a decision to reduce its rating to "hold" from "buy" and its target price from $3 to $2.50. CIBC World Marketing analysts Ittai Kidron jumps on the bandwagon by describing Nortel as a "turtle in a rabbit race". He believes the company should keep its Metro Ethernet and VoIP units but sell everything else "while they have value". Source: Globe & Mail. Tags: Nortel Networks, Metro Ethernet, VoIP