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The Downgrade Dance
By Mark Evans | August 5, 2008
Next up in the downgrade spotlight: Merrill Lynch’s Vivek Arya.
Today, Arya reduced NT to a “underperform” from “neutral”, while slashing his target price to $7 from $8.50. His rationale: it’s “triggered by a combination of increased caution regarding Nortel’s 2009 prospects as well as realignment of our coverage cluster related to our recent upgrade of Motorola.”
For more, check out Barron’s Tech Trader Daily blog.
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Topics: Analyst Coverage |