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Genuity Maintains Hold
By Mark Evans | August 7, 2007
In the wake of Nortel’s second-quarter results, Genuity analyst David Hodgson has maintained his “hold” rating and $24 target.
“While the valuation has become more appealing to us, we need to see some evidence that Nortel is going to become a more focused company before upgrading it,” he said in a research note. “It quite simply does not have scale in too many of its target segments and management needs to make the tough decisions to divest those parts of the business where it lacks scale.
Source: Mark McQueen, Wellington Financial
Topics: Analyst Coverage |