Canaccord Genuity Assumes Coverage on Mitel (MITL) at Hold; Seeing Progress on Sales Realignment, New Products
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Price: $11.15 --0%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity assumes coverage on Mitel (NASDAQ: MITL) with a Hold. PT $3.50 (from $6.00).
Canaccord analyst, Bobby Burleson, says, "The restructuring and the realigned channel strategy are gaining traction and should help reinvigorate growth and improve profitability over time. However, with a continued lack of appetite for value technology, we remain on the sidelines given execution risk and would like to see another quarter of repeatable operational performance to get more constructive on the stock."
"We are modeling $167.2M/$0.21 vs. our prior $166M/$0.19 and consensus of $168M/$0.19. For F2012 we are modeling $673M/$0.84 vs. our prior $664M/$0.75 and consensus of $670M/$0.74. We are establishing estimates for F2013 at $700M/$0.95 vs. consensus of $705M/$0.87."
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 $2.74 yesterday.
Canaccord analyst, Bobby Burleson, says, "The restructuring and the realigned channel strategy are gaining traction and should help reinvigorate growth and improve profitability over time. However, with a continued lack of appetite for value technology, we remain on the sidelines given execution risk and would like to see another quarter of repeatable operational performance to get more constructive on the stock."
"We are modeling $167.2M/$0.21 vs. our prior $166M/$0.19 and consensus of $168M/$0.19. For F2012 we are modeling $673M/$0.84 vs. our prior $664M/$0.75 and consensus of $670M/$0.74. We are establishing estimates for F2013 at $700M/$0.95 vs. consensus of $705M/$0.87."
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 $2.74 yesterday.
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