UBS Maintains a 'Neutral' on Mitel (MITL); Lowering Estimates and Target
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Price: $11.15 --0%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
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UBS maintains a 'Neutral' on Mitel (NASDAQ: MITL), PT lowered $1 to $5.
UBS analyst says, "Based on our industry checks, Mitel’s end market demand remains sluggish. The company is heavily exposed to the small and medium sized enterprise market, which we believe is unlikely to see meaningfully increases in spending on equipment. We expect the environment to remain challenging for Mitel, likely weighing on the company’s growth profile medium-term."
"We now lower our calendar year 2012 estimates for Mitel. We expect CY12 sales to grow 4% versus our prior 5%. We further lower our CY12 gross margin estimates to 48% from 49%, which to some extent depend on higher value-add UC software sales. (FY12 from $0.61 to $0.59)
For more ratings news on Mitel click here and for the rating history of Mitel click here.
Shares of Mitel closed at $4.59 yesterday.
UBS analyst says, "Based on our industry checks, Mitel’s end market demand remains sluggish. The company is heavily exposed to the small and medium sized enterprise market, which we believe is unlikely to see meaningfully increases in spending on equipment. We expect the environment to remain challenging for Mitel, likely weighing on the company’s growth profile medium-term."
"We now lower our calendar year 2012 estimates for Mitel. We expect CY12 sales to grow 4% versus our prior 5%. We further lower our CY12 gross margin estimates to 48% from 49%, which to some extent depend on higher value-add UC software sales. (FY12 from $0.61 to $0.59)
For more ratings news on Mitel click here and for the rating history of Mitel click here.
Shares of Mitel closed at $4.59 yesterday.
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