Piper Jaffray Downgrades Mitel Networks (MITL) to Neutral; Tepid Sales Growth and Leadership Uncertainty
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Price: $3.32 +0.30%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade MITL Now!
Piper Jaffray downgrades Mitel Networks (Nasdaq: MITL) from Overweight to Neutral. PT lowered from $14.00 to $6.50.
Piper analyst says, "Mitel reported mixed FQ1 results, missing the low end of management's top line guidance of $163M but matching margin expectations. Though public for less than six months, it was announced that Don Smith will retire as CEO...MITL's two quarters as a public company have been underwhelming and while we believe in the longer-term story, too much uncertainty remains in the near term to be bullish."
To see all the upgrades/downgrades on shares of MITL, visit our Analyst Ratings page.
Shares finished up $0.05 to close at $6.55, however, the stock has been cut almost in half since it began trading in late April.
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Piper analyst says, "Mitel reported mixed FQ1 results, missing the low end of management's top line guidance of $163M but matching margin expectations. Though public for less than six months, it was announced that Don Smith will retire as CEO...MITL's two quarters as a public company have been underwhelming and while we believe in the longer-term story, too much uncertainty remains in the near term to be bullish."
To see all the upgrades/downgrades on shares of MITL, visit our Analyst Ratings page.
Shares finished up $0.05 to close at $6.55, however, the stock has been cut almost in half since it began trading in late April.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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