Analysts Down on NT

UBS has maintainted its “neutral” rating on Nortel but reduced its target price to $2.35 from $2.55. In a research note published last week, UBS said it is concerned about the absence of visibility of the revenue contribution from the NT-LG JV and large deferred revenue balance. Meanwhile, Prudential analyst Inder Singh has downgraded Nortel to “neutral weight” from “overweight”, while slashing his target price to $2.50 from $4.

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