Lehman Brother analyst Inder Singh of Lehman Brothers is maintaining his “equal weight” rating on Nortel but reduced his target price to $17.00 to $15.50.
In a research report, Singh said Nortel’s Q1 revenues and EPS were ahead of the estimates and the consensus. That said, he reduced his EPS estimates for 2008 and 2009 to $1.03 to $0.92 and from $1.33 to $1.23, respectively.
Technorati Tags: Nortel
