SPOTLIGHT: Nortel slapped down by RBC

Already down this quarter, Nortel got another kick in the gut from fellow Canadian company RBC Capital. "Public equity investors have mostly given up on the company," said RBC Capital analyst Mark Sue.

RBC has downgraded Nortel's stock from "sector perform" to "under-perform" and has cut the price target for Nortel shares in half, to $2. A combination of a deteriorating balance sheet, turbulence in the credit markets, the potential ("potential"?) for a slowing economy overseas and additional scrutiny on carrier spending is not making it easy for Nortel to carry out its turnaround plans.

For more:
- National noting Nortel's not popular among investors these days

Related stories
Nortel sounds warning bell, may sell unit - FierceTelecom
Nortel takes it on the chin in Q2 - FierceTelecom

Suggested Articles

Amazon has filed a motion that seeks to pause Microsoft's work on the Pentagon's $10 billion cloud contract until a court rules on its protest.

Vodafone Group and Sunrise announced a partnership that allows Sunrise's enterprise customers to tap into Vodafone's business services.

Verizon and Google have teamed up for a symbiotic relationship that puts Google's Stadia gaming system into the hands of new Fios subscribers.