It was a good week for European tech stocks, but someone forgot to tell Alcatel-Lucent (ALU...

|By:, SA News Editor

It was a good week for European tech stocks, but someone forgot to tell Alcatel-Lucent (ALU unchanged). Shares fell to the $1 range yesterday following a bleak Q2 report, which itself followed a bad warning, and they stayed there today thanks to downgrades from Capstone and RBC. The latter slashed its PT to $0, declaring a recovery unlikely in the face of share losses to Huawei and ZTE. Bernstein is slightly more optimistic, arguing ALU can manage its huge debt obligations until 2014.