All About Nortel

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 [...]

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With Nortel disappointing the market with its Q2 results lat week, it’s takrn little time for the analysts to jump off the bandwagon.
Jefferies & Co.’s George Notter lowered NT to a “hold” from a “buy” amid fears of lower wireless sales. Notter is concerned the decline of Nortel’s CDMA business will not be offset by [...]

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Frank Burch was good enough to put together an extensive chart outlining what the different analysts are expecting from Nortel’s Q2 results, which come out on Friday.

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Don’t worry if Nortel’s Q2 results fail to give its shares a jump-start.
Scotia Capital analyst Gus Papageorgiou said Nortel’s third and fourth quarter results will be better with impressive performances from its optical and enterprise units.
Papageorgiou rates NT as a “sector perform” with a targer price of $11.50.

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Even as Nortel shares slide back down again, there are analysts still keen on the company’s prospects.
In a research report, an outfit called International Independent Investment Research recently upgraded NT to a “buy” from a “hold” with a six to 24-month target of US$11.42.
IIIR analyst Jatin Predeep said he believes Nortel’s growth plans are “significantly [...]

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Add Zack’s Investment Research to the growing number of analysts coming around to Nortel. In a research note, Zack’s maintained its “hold” rating with a six-month target price of $12.
“Nortel is currently trading at 61.3x our fiscal 2008 earnings estimates. This represents a significant premium to both the forward S&P 500 average and the peer [...]

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Although I get my hands on a fair number of analyst reports, I’d welcome any or all reports that people want to share with AAN.

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One thing about analysts who cover Nortel; they like to travel in packs.
Hot on the heels of Nortel’s annual investor day, the analyst reports continue to flow. One from TD Securities’ Chris Umiastowski proclaims that “Nortel is Making a Comeback”. He continues to call Nortel an “action list buy” with a target price of US$13.
“We [...]

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In the wake of yesterday’s news - Nortel focused on LTE and dropping Wi-Max, and management confirming the 2008 financial outlook - you knew it was only a matter of time before the analyst upgrades started to emerge.
JP Morgan appears to be first out of the game as Ehud Gelblum upgraded Nortel to “overweight” from [...]

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With Nortel’s annual analyst day happening on June 11, it’s an appropriate time to take a look at what they’re thinking. The target price of Nortel shares is $10 with a high of $15.50 and a low of $6.40. (Note: The information below needs to be updated to take into account Paradigm analyst Barry Richard’s [...]

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