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Goldman Downgrades NT to “Sell”
By Mark Evans | April 28, 2007
Goldman Sachs has downgraded Nortel to “sell” from “neutral” amid concerns Nortel may not be able to meet its 2008 revenue goals. The investment firm also said Nortel shares may also face “selling pressure’” from the company having to distribute up to $1.9 billion in stock over the next 12 months as compensation in shareholder lawsuits.
Topics: Analyst Coverage |