Peter Hofstra
Nortel AS
NTEL-T
DON'T BUY
Aug 22, 2005
Although the 1st quarter was pretty decent and the market liked it, they are staying away for awhile. Some management changes that came from Cisco (CSCO-Q) didn't work. Not convinced they're out of the woods yet. It's a tough end market. It's a long road ahead.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.