Alcatel Lucent Rating Reiterated by Zacks (ALU)
Zacks reissued their neutral rating on shares of Alcatel Lucent (NYSE: ALU) in a research report released on Friday morning. Zacks currently has a $1.50 price target on the stock.
Zacks’ analyst wrote, “We are reaffirming our Neutral recommendation on Alcatel-Lucent with a $1.50 target price. The company’s fourth-quarter results were not encouraging as overall revenue dropped due to declines across its segments. In addition, gross margin was impacted by weakness of the U.S. dollar and an adverse impact from product and geographic mix. The highly competitive nature of the telecom industry also concerns us. However, the company generated a strong cash flow. All in all, the company had a challenging 2012 and is aiming for a better 2013 with a strong pipeline of new products and strategic outsourcing deals across its operating segments. “
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein upgraded shares of Alcatel Lucent from an underperform rating to a market perform rating in a research note to investors on Friday, March 1st. Separately, analysts at HSBC downgraded shares of Alcatel Lucent from a neutral rating to an underweight rating in a research note to investors on Monday, February 25th. Finally, analysts at Goldman Sachs reiterated a sell rating on shares of Alcatel Lucent in a research note to investors on Friday, February 22nd.
Seven equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, twelve have assigned a hold rating, four have assigned an underweight rating, and ten have given a sell rating to the company’s stock. The company has an average rating of hold and an average price target of $1.56.
Shares of Alcatel Lucent traded up 1.71% during mid-day trading on Friday, hitting $1.485. Alcatel Lucent has a 52 week low of $0.91 and a 52 week high of $2.48. The stock’s 50-day moving average is currently $1.5. The company’s market cap is $3.396 billion.
Alcatel Lucent is engaged in mobile, fixed, Internet Protocol (IP) and optics technologies, applications and services.
To view Zacks’ full report, visit www.zacks.com
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