Market Overview

UPDATE: Bank of America Upgrades Alcatel-Lucent on Bold Restructuring

Related ALU
Mid-Day Market Update: Oracle Jumps On Upbeat Earnings; Silicon Image Shares Decline
D2 Technologies and Alcatel-Lucent Complete Interoperability Testing of VoLTE and RCS

In a report published Thursday, Bank of America analyst Didier Scemama upgraded the rating on Alcatel-Lucent (NYSE: ALU) from Underperform to Buy, and raised the price target from $0.98 to $3.50.

In the report, Bank of America noted, “We believe that ALU's new management team has a convincing restructuring plan in place aiming to reduced fixed costs by Eur 1bn by 2015. The company intends to refocus its portfolio and R&D budget away from legacy technology into IP networking technologies where the company is a world leader. Ultimately we expect the group to deliver 6.4% EBIT margins in 2015, assuming more conservative margin targets than the company.”

Alcatel-Lucent closed on Wednesday at $1.93.

Latest Ratings for ALU

Oct 2014Craig-HallumUpgradesHoldBuy
Aug 2014Morgan StanleyUpgradesEqualweightOverweight
Jun 2014HSBCUpgradesUnderweightNeutral

View More Analyst Ratings for ALU
View the Latest Analyst Ratings

Posted-In: Bank of America Didier ScemamaAnalyst Color Upgrades Analyst Ratings


Related Articles (ALU)

Around the Web, We're Loving...

Get Benzinga's Newsletters