Category Archives: Analyst Coverage

Why RIM Wants Nortel

By Mark Evans | Published: July 21, 2009

So, why does Research in Motion want to buy Nortel’s CDMA and LTE businesses – a move that came out left field? According to Genuity Capital Markets analyst Deepak Chopra, RIM could be interested in Nortel’s IP: “The bid for Nortel’s CDMA and LTE access business is puzzling, as this is outside of RIM’s core area of [...]

Also posted in M&A, Wireless | Tagged genuity, Nortel, research, RIM | 10 Comments

Tom Astle’s Take on NT: From Zero to Hero to Zero

By Mark Evans | Published: January 22, 2009

Earlier this week, I mentioned an interesting and insightful research report by Dundee Securities’ Tom Astle, who covered Nortel from 1992 to 2007. Tom was good enough to give me the green light to publish the complete report, which is titled: “Nortel – Zero to Hero to Zero”. Note: The last two-thirds of the report can [...]

Also posted in Financials | 6 Comments

Nikos: Bankruptcy Protection Has Appeal

By Mark Evans | Published: December 19, 2008

UBS analyst Nikos Theodosopoulos believes it might make sense for Nortel to seek bankruptcy protection sooner rather than later. In a research report, “Nortel: January bankruptcy filing?”, Theodosopoulos said declaring bankruptcy in January “may make sense to maximize franchise value”, and allow the company to avoid an interest payment of $100-million to $120-million due on Jan. [...]

Posted in Analyst Coverage | 9 Comments

Umiastowski Downgrades NT, Suspends Target Price

By Mark Evans | Published: December 19, 2008

Citing tighter capital spending by carriers and concern about Nortel’s future among enterprise customers, TD Securities analyst Chris Umiastowski has downgraded Nortel to a “reduce” and suspended his stock price target. The decision to downgrade NT to a “reduce”, he said, is based on the expectation that Nortel will have sales materially below consensus, and force [...]

Posted in Analyst Coverage | 6 Comments

Thompson: Bankruptcy Protection Plans Premature

By Mark Evans | Published: December 10, 2008

National Bank analyst Kris Thompson suggests the possibility of Nortel filing for bankruptcy protection is premature right now. With a $1-billion bond not coming due until July 20011, Thompson expects Nortel will end 2009 with $1.4-billion in cash. “With no short-term debt obligations and the possibility that Nortel can successfully restructure, we would not expect CCAA as [...]

Also posted in Financials | 8 Comments

Cowen & Co. Initiates Coverage

By Mark Evans | Published: December 5, 2008

It seems like a strange time to be initiating coverage on Nortel but Cowen & Co. did so today with an “underperform” rating. “While recognizing that shares are down 96% YTD and that additional downside is likely limited on an absolute basis, we believe shares will under perform the group and the broader market over the [...]

Posted in Analyst Coverage | 53 Comments