Rest of ’06 Better for Nortel?

RBC Capital Markets analyst Mark Sue expects Nortel to post better results in the second-half of the year, which should help the company see 5% revenue growth in 2006. When Nortel releases its second-quarter results next week, Sue is looking for Nortel to confirm its guidance of operating margins in the mid-teens by 2008 and operational savings of $1.5-billion. Sue has a "sector perform" rating on Nortel with a price target of $3.50. Meanwhile, DonHarrold.net, which "provides unbiased stock ratings for registered investment advisors", rates Nortel a "buy". Harrold’s definition of a buy is that "the momentum indicators I follow are in full swing. I see a "buy" as one that is usually already in the process of trending higher from previously oversold levels."

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