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Analyst Coverage

Sue Down on Alcatel-Lucent Too

If you thought RBC Capital Markets’ analyst Mark Sue was just down on Nortel, he’s bearish on Alcatel-Lucent as well. He reduced his stock price target to $6 from $7.
“The demand environment for traditional telecom gear seems to be taking a downtick and we’re decreasing our estimates on Alcatel Lucent, And despite the depressed valuation [...]

RBC Slashes Target Price

RBC Capital Markets analyst Mark Sue has reduced his target price on NT to $6 from $8, suggesting that tougher economic times could make it more difficult for IT managers to wander away from incumbent enterprise network equipment suppliers - making it tougher for Nortel to attract business. (Source: MSN Money)
In July, Sue said that [...]

Nortel’s Margins Expected to Improve

While Nortel is not expected to have a stellar year from a revenue perspective, there may be some positive signs that better times lie ahead.
In a research report, Independent Investment Research analyst Jatin Pradeep suggests Nortel could see “significant y-o-y margin improvement to drive growth. Subsequently, our revenue and adjusted operating margin estimates for FY [...]

Lehman Downgrades NT; Slashes EPS Target

Lehman Brothers analyst Jeff Kvaal has downgraded Nortel to “under-weight” from “equal-weight” while slashing its 2008 earnings estimate to 38 cents a share from 92 cents.
Lehman still has a target price of $6. In earning-morning trading, Nortel is down 17 cents to $5.79 after touching a 52-week low of $5.73 earlier.
Kvaal’s downgrade is based on [...]

The Downgrade Dance

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 [...]

Let the Downgrades Begin

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 [...]

What’s Ahead for Q2

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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Papageorgiou Keen on Q3/Q4

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.

The Bulls Are Still Around

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 [...]

Zack’s Sees Stock Price Volatility

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 [...]