Canaccord Genuity Reiterates a 'Buy' on Mitel (MITL); Well Attended, Positive Presentation at Analyst Day

June 29, 2012 8:53 AM EDT Send to a Friend
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Price: $9.96 --0%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 16 | New: 41
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Canaccord Genuity reiterates a 'Buy' on Mitel (NASDAQ: MITL) price target of $6.00.

Analyst, Bobby Burleson, said, "We reiterate a BUY rating as we expect the company to harvest benefits from its new channel structure and we believe new products could drive upside to the target model. Key areas of focus included traction in its new US channel structure, leadership in virtualized UC and voice applications, and new hosted and video collaboration products helping it address expanded markets. The company reiterated its long-term (three-year) target model."

For an analyst ratings summary and ratings history on Mitel click here. For more ratings news on Mitel click here.

Shares of Mitel closed at $4.41 yesterday.


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