RBC Cautious on Nortel

RBC Capital Markets analyst Mark Sue has a cautious approach to Nortel as new CEO Mike Zafirovski works to rebuild the organization from top to bottom. Sue expects the company to have modest sales growth of only 4% to $11.6-billion this year – compared with 6% for Lucent, 10% for Ericsson and 7% for Alcatel. “It‘s a new year for Nortel and with it comes new headquarters and challenges along with more changes and opportunities,” he said in a report. Sue would like to see Nortell hire a chief technology officer and chief marketing officer ASAP but believes Zafirovski will wait to bring on a COO.

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