TD Downgrades NT, Lowers Target Price

Based on his assertion that Nortel is about a year behind its original plan to improve its cost structure, TD Securities analyst Chris Umiastowski has downgraded the company to a "hold" from a "buy", while reducing its target price to $2.50 from $3.


2 Responses to “TD Downgrades NT, Lowers Target Price”

  1. Observer Says:

    Targets are astounding.

    Nortel seems to be coming in at a fraction of projected targets. A fraction!

    What should be divide the target prices by to get more truthful answers given their projections in the past?

    This is a far cry from analyst Ross Healy’s prediction of Nortel revisting a double bottom of its lowest lows when insolvecny was an issue and with exponentially greater woes now than ever before.

  2. Harold Best Says:

    Excuse my naive observation of the TD quote, but how is it possible to quote such prices when we know the consolidation will take place in approximately 3 weeks. At that time the price will begin trading at 10X market which will be no where near $2.50. What am I missing? Maybe I am to take the $2.50 (10) = $25.00 per share.

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