All About Nortel

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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The decline of Nortel shares continues to unfold as memories of the company’s annual investor day last month become a distant memory.
With the stock down another 14 cents today to $6.42 in extremely heavy trading, it has now dropped 36% in the past month. Then again, many of Nortel’s peers such as Alcatel, Cisco and [...]

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RBC Capital Markets analyst Mark Sue believes Nortel shares could hit $18 by 2011….if everything goes perfectly according to plan.
“If things line up exactly for Nortel and the company hits the high end of its operating margin targets, Nortel can potentially generate approximately US$1.50 in earnings in 2011, Mr. Sue said in a research note. [...]

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What’s going on with Nortel today?
In early-afternoon trading, the stock is down 66 cents, or 8.9%, to $7.17 in New York. Meanwhile, the Dow Jones is down 1.16%, while Nasdaq has dropped 1.06%.

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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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Investors must have liked the LTE announcement and/or analysts got really encouraged during Nortel’s annual analyst day as the company’s shares have jumped nearly 12% to $9.07 in New York - the highest they’ve traded in more than three months.
More: Barron’s Tech Trader Daily has a blog on the rebound of Nortel shares. As well, [...]

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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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Globe & Mail columnist Derek De Cloet takes a healthy run at Nortel CEO Mike Zafirovski, suggesting that despite all the work over the past 2+ years, Mike Z. is not doing enough because Nortel’s stock price has performed badly during his time at the corporate tiller.
The column is interesting because while Nortel has been [...]

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If you’re among the people part of Nortel’s class-action settlement, then you’ll soon be getting some cash and share certificates from Nortel.
Two years after the then $2.4-billion settlement was reached, the checks and certificates are finally in the mail. According to the Montreal Gazette, there are 145,000 Canadian claimants.

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The Ottawa Citizen ran an interesting story a couple of days ago looking at what might happen to Nortel shares when 33 million new shares hit the market next month.
These shares, which represent 8% of the total outstanding, are part of the settlement of class-action lawsuits. Since a deal was made two years ago, [...]

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