Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

CIBC World Downgrades Nortel Networks

CIBC World downgraded its investment rating on shares of Nortel Networks (NT) to sector perform from sector outperform.

Analyst Stephen Kamman says Nortel stock recently reached the $5 target he had set in April in upgrading the shares on a valuation basis. He had based his April upgrade on the opportunity created by a sell-off in Nortel following news that then-CEO Frank Dunn had been "terminated for cause" due to his "accountability for financial reporting". Kamman thinks this opportunity is now closed; at this point, he believes profitability and profit prospects remain unclear for Nortel. The analyst recommends that investors take a wait-and-see approach until mid-August, when Nortel will report full results for 2001-2004.

blog comments powered by Disqus