Scotia Capital analyst Gus Papageorgiou has called it like he sees it:
“Given the overall economic and market environment, we do not believe NT shares are well positioned. We would prefer investors locate their capital in companies with at least two of the following three characteristics: strong balance sheet, high growth, and strong profitability. As a result we continue to suggest investors avoid the shares.”
In a report, Papageorgiou goes on to say that:
“We believe Nortel faces some serious challenges in 2009. The company needs to re-establish priorities, preserve cash, divest at least one of its business units, and prove to the market that it can generate enough free cash flow to remain solvent as the global economy passes through one of the roughest periods in years.”
Update: The Wall St. Journal has a story looking at the four senior executives who were let go yesterday.
Nortel was his top pick for 2008 with a target of $30...
The sentiment on this company is much too negative. This is not a year where tax selling will be a factor, so I do not see the point of recommending selling the stock now.
exnt2
ouch I mean ouch. change in direction for Gus from just a few months ago.
I should be an analyst. wait until good or bad earnings, stock goes up or plummets and then 'adjust' my forecast.
Z should stand down. under his reign, 4.5 billion is probably largest cumulative loss. we want a turnaround not a bellyflop. His photo showing a stiff lip epxressing disappointment is a joke, as if he is not responsible.
South of the Border
At least John Roese lasted longer than his mentor Craig Benson lasted as
governor of New Hampshire.
NewAge
Is Nortel going to be delisted from the NYSE?
Cos it is $0.80 just right now.
Lets remember the NYSE's rule:
NYSE's rules for listing state that stocks trading for less than $1.05 during a 30-day average, or drop below “minimum market capitalisation of $75 million” may be delisted
China
Ding,
Shafa.
Every employee in china has a question that when Nortel dies and how to find a new job?
zte
hi, you are so NB.
exnt2
er Huawei, ZTE. at least you have options. here there are none.
yes4aapl
There is bk law in place and if Nortel file for BK many jobs can be saved.
Don't give up your fight, work as always and even harder!
Papageorgiou: Stay Away from NT
Scotia Capital analyst Gus Papageorgiou has called it like he sees it:
In a report, Papageorgiou goes on to say that:
Update: The Wall St. Journal has a story looking at the four senior executives who were let go yesterday.
Technorati Tags: Nortel