Analysts Getting Frustrated

A theme among analysts in the wake of Nortel’s third-quarter results is frustration/impatience with the pace of change of the company’s restructuring. Earlier this week, TD Securities cited this issue as a key factor in a decision to reduce its rating to "hold" from "buy" and its target price from $3 to $2.50. CIBC World Marketing analysts Ittai Kidron jumps on the bandwagon by describing Nortel as a "turtle in a rabbit race". He believes the company should keep its Metro Ethernet and VoIP units but sell everything else "while they have value". Source: Globe & Mail. Tags: , ,

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3 Responses to “Analysts Getting Frustrated”

  1. Observer Says:

    Again a whopping 26 analysts revision downward after their CC the CEO reiterated was answering questions due to their transparency, like imagine no answering questions on their financials as they had done in their recent 8-K on the Felxtronics ammendments.

    Look at the downward revisions yet again… Mike and Peter’s theatrics failed to impress analysts it seems.

    http://www.nasdaq.com/earnings/analyst_summary.asp?mode=&page=&symbol=NT&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&selected=nt&FormType=&kind=&Leap=&mkttype=&sel=analystinfo&userinput=

    also not that Ethics officer left Nortel. I wonder why =)

  2. rock samborsky Says:

    That’s nice. But there’s still only one ‘sell’ against 25 ‘holds’, 7 ‘buys’ and 1 ‘strong buy’, so you’re pretty much in the wilderness with your ‘strong sell’ sentiment.

  3. Observer Says:

    So over the last few years with the absence of “sell” recommendations in this area, how has the stock faired?

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