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Technology Stocks : Nortel Networks (NT)

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From: Kevin Rose	6/10/2005 6:37:49 PM
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Nortel Networks (NT ): Maintains 3 STARS (hold) Analyst: Kenneth Leon, CPA In our view, Nortel's financial outlook is not impaired by the announced resignation of its COO, who joined the company less than three months ago. The company cites a difference in management styles between the CEO and COO. A former executive of Cisco Systems, we believe the COO wanted to move Nortel to the enterprise market, while the CEO, with a military background, has pushed the company toward the government sector, as evidenced by Nortel's recent agreement to acquire PEC Solutions for $445 million, subject to necessary approvals. Priced at 1 time our 2005 sales estimate, we would hold Nortel shares. yahoo.businessweek.com

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