Time to Jump In?

Although 2006 will not be a good year financially for Nortel, maybe the time is right to jump before CEO Mike Zafirovski's overhaul starts to bear fruit. In a research report, TD Newcrest analyst Chris Umiastowksi said "Nortel is probably a good investment for those with an investment horizon of at least one year". He rates the stock a "buy" with a 12-month target price of US$3. "We believe that Nortel is suitable for longer-term investors who are likely to look beyond 2007 and believe that Mike Zafirovski is taking the necessary steps to fix Nortel," Umiastowski said.

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