Investment firm Robert W Baird maintain its “neutral” rating on Nortel, while raising its 12-month target price from $2 to $20 to reflect Nortel 1:10 stock consolidation. In a research note, the investment firm said its EPS estimates for 2006 and 2007 have been raised from $0.07 to $0.74 and from $0.20 to $2.11, respectively. In New York yesterday, Nortel fell 35 cents to $21.15.
Baird Maintains Rating
Investment firm Robert W Baird maintain its “neutral” rating on Nortel, while raising its 12-month target price from $2 to $20 to reflect Nortel 1:10 stock consolidation. In a research note, the investment firm said its EPS estimates for 2006 and 2007 have been raised from $0.07 to $0.74 and from $0.20 to $2.11, respectively. In New York yesterday, Nortel fell 35 cents to $21.15.