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http://www.allaboutnortel.com/2008/12/19/umiastowski-downgrades-nt-suspends-target-price/ -
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I just wish these so called after the fact "analysts" would not be so eager to offer up their "expert analysis" as most investors would be better off without them.
One has to wonder about the connection between the media's push with its "Bankruptcy headlines" and the analysts "late" or after the fact downgrades.
Where were these "headlines" when Nortel was trading above $5 just 4 short months ago, after all if Nortel's future has a serious consideration of bankruptcy in it 4 months is not long enough that it wouldn't of been mentioned as a possibillty at the time.
I do remember however that it was Mark Sue stating that if Nortel "executes perfectly" they could be an $18 stock in 2011,now he has assigned $0 as his target only months later......gee thanks alot Mr.Sue,what would we do without you!
Hardly speculation for gain with "inevitable basnkruptcy" looming short of the MENs sale at a "reasonable price" which is unlikely...
I think he is very wrong about Nortel not folding in 2009 though, when they are already looking into it in 2008 =)
Perhaps he is with the consensus they can keep making interest payments and costs with the cash they have left through 2009 as Nortel reiterates while downplaying folding like they did their revisions.
I agree Nortel will not be the ones to pull the plug to allow them restructuring capital, than drag it out as long as they possiblly can. I disagree that some one will let them though.