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Technology Stocks : Nortel Networks (NT)
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From: tom pope2/6/2006 9:34:27 AM
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LONDON (MarketWatch)--Citigroup cut Nortel Networks Corp. (NT) to hold from buy and lowered its price target to $3.20 from $4, due to weaker demand environment for companies like Nortel and Lucent Technologies Inc. (LU) "that don't have meaningful exposure to the build-out of access gear."

The broker added that its cost estimates for Nortel are going up slightly because of delay in the manufacturing transfer to Flextronics International Ltd. (FLEX) and the probability that the new chief executive will want to re-evaluate restructuring plans.
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