"That goes well with Nortel's recently earned downgrade by Edward Jones analyst David Powers to "hold" from "buy.""
Zoltan, since you insist on playing this silly game of picking off one analyst's negative viewpoint on NT, I thought I would post a reply to put some balance and perspective!
Nortel Networks Corp -
Globe says Nortel rally expected to continue
Nortel Networks Corp
NT
Shares issued 678,860,932
1999-12-16 close $133
Friday Dec 17 1999
The Globe and Mail reports in its Friday, Dec. 17, edition that Nortel Networks' share price, which closed at an all-time high yesterday, has finally caught up to the company's reputation as Canada's high-technology crown jewel, say analysts. The Globe's Lawrence Surtees writes that strong growth in its core businesses and a string of acquisitions capped by the $3.25-billion (U.S.) purchase of Qtera on Wednesday, has catapulted Nortel's stock to record highs all year long and fuelled a 30-per-cent gain this month alone. With a market capitalization of $180.2-billion, Nortel is Canada's most valuable company. Nortel's share price has quadrupled this year, but analysts on Wall and Bay streets say the stock still has room to go higher. A Bloomberg survey of 37 analyst recommendations found 30 of them were to "buy" the stock, six to "hold" and just one to "sell." The Globe says Nortel's share price keeps rising as fast as analysts can set new share price targets.
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