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Robert Baird Maintains “Outperform” Rating
By Mark Evans | November 16, 2007
Robert W Baird has maintained its “outperform” rating on Nortel with a target price of $26.
In a research note, the investment firm said Nortel has indicated that it is making progress on operating profit improvement targets of +$750 million and +$1.5 billion set under the business bransformation plan for 2007 and 2008, respectively. Baird said Nortel has been delivering better margins despite unfavorable pricing trends, legacy declines and strategic investments.
Topics: Analyst Coverage, Stock |