Northland Capital Markets Maintains Outperform Following a Visit to ShoreTel (SHOR) HQ

Northland Capital Markets maintains an Outperform rating and $11.00 price target on ShoreTel (NASDAQ: SHOR) following a visit to Headquarters. Analyst Michael Latimore says that SHOR is confident that it will hit its September target to release Connect offering. Connect is currently in beta with smaller customers.

Latimore commented, “We visited ShoreTel’s headquarters last week. ShoreTel Connect betas are proceeding at current smaller customers, and will likely move to larger customers and more complex environments this month. Management seems confident is hitting the v1 release date goal. ShoreTel is not providing enhanced promos this quarter we believe. We continue to believe Connect will help motivate partners to sell cloud and hybrid services, providing momentum to ShoreTel’s recurring revs.”

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

Shares of ShoreTel closed at $7.01 yesterday.

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