Growing Analyst Enthusiasm for Nortel

Is it time for another Nortel love-fest? It certainly looks like the company is moving back into favour again given Scotia Capital analyst Gus Papageorgious and RBC Capital Markets analyst Mark Sue have both come out with enthusiastic research notes. The common theme is the expected impact of Nortel CEO Mike Zafirovski, who has been overhauling the company’s management team while maintaining an ultra-low profile since taking the helm in November. Zafirovski’s decision not to talk with analysts or the media is smart because it gives him time to get Nortel back on the right track from a strategic, management and operational perspective. When that exercise is completed or well on its way, he can move into the spotlight and offer some concrete views on Nortel’s direction. I think we’re going to discover Mike Z. is a different breed of cat from John Roth, Frank Dunn and Bill Owens.

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