Credit Suisse Upgrades Alcatel (ALU) to Neutral; Debt Agreement Makes Co. Viable

January 3, 2013 10:07 AM EST
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Price: $3.46 --0%

Rating Summary:
    14 Buy, 7 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Alcatel-Lucent (NYSE: ALU) is higher on the session following an upgrade issued overnight.

Credit Suisse raised its rating on Alcatel from Underperform to Neutral, boosting its price target from €0.70 up to €1.25.

Credit Suisse commented that while Alcatel is likely to burn cash through 2014, its new debt agreement makes it a viable business through 2015. The firm also said that management's long-term sales goals would be difficult to achieve with the effectiveness of operating expense restructuring still questionable.

Short interest is down about half since November to 8.5 percent of float. Alcatel shares are up about 10 percent on the session.

For an analyst ratings summary and ratings history on Alcatel-Lucent click here. For more ratings news on Alcatel-Lucent click here.

Shares of Alcatel-Lucent closed at $1.40 yesterday.

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