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UBS Disappointed
By Mark Evans | March 19, 2007
UBS Securities analyst Nikos Theodosopoulos described Nortel’s Q4 results as “disappointing” based on lower than expected gross margins and pro-forma EPS. He was less than impressed with the company’s outlook for 2007 and Q1 2007, which came in lower than UBS’ estimates. Another thing that caught his eye was the size of the UMTS business, which was sold to Alcatel last year, was higher than expected at $750-million (double UBS’ estimate). Theodosopoulos rates NT has a “neutral” with a $28 target price.
Topics: Financials |