Canaccord Genuity Maintains a 'Hold' on Mitel (MITL); Making Progress on New Sales Structure
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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 maintains a 'Hold' on Mitel (NASDAQ: MITL) price target raised to $4.00.
Analyst, Bobby Burleson, said, "We remain HOLD rated on shares of MITL following largely in-line results and increase our price target on a slightly higher C2012 EPS estimate of $1.01. While the company's ability to drive sustainable growth under the new US sales structure and expanding channel is untested, we are encouraged by the divestiture of low-margin DataNet solutions and believe the target model could be adjusted positively in coming quarters."
"We are modeling $154M/$0.25 vs. our prior $173M/$0.23 and consensus of $174M/$0.25. For FYE April ’12 we are modeling $638M/$0.86 vs. our prior $673M/$0.84 and consensus of $674M/$0.86. For FYE April’13 we are modeling $626M/$1.03 vs. our prior $700M/$0.95 and consensus of $701M/$0.97."
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 $3.70 yesterday.
Analyst, Bobby Burleson, said, "We remain HOLD rated on shares of MITL following largely in-line results and increase our price target on a slightly higher C2012 EPS estimate of $1.01. While the company's ability to drive sustainable growth under the new US sales structure and expanding channel is untested, we are encouraged by the divestiture of low-margin DataNet solutions and believe the target model could be adjusted positively in coming quarters."
"We are modeling $154M/$0.25 vs. our prior $173M/$0.23 and consensus of $174M/$0.25. For FYE April ’12 we are modeling $638M/$0.86 vs. our prior $673M/$0.84 and consensus of $674M/$0.86. For FYE April’13 we are modeling $626M/$1.03 vs. our prior $700M/$0.95 and consensus of $701M/$0.97."
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 $3.70 yesterday.
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