Thursday, November 13, 2008
Analyst: Nortel Bankruptcy Rate May Soar
“Bankruptcy” and “distinct possibility.” Not the sorts of words a company hopes to see in its press coverage, but precisely the ones Nortel has been confronted with today. Describing the telecom equipment manufacturer as “overwhelmed with debt and burning cash,” RBC Capital Markets analyst Mark Sue cut his price target on Nortel to $0 from $1.50 and warned that the company is facing a very bleak future




