UPDATE: M Partners Reiterates Buy Rating, Raises PT on Mitel Networks Corporation
In a report published Friday, M Partners reiterated its Buy rating on Mitel Networks Corporation (NASDAQ: MITL), and slightly raised its price target from $4.50 to $5.00.
M Partners noted, “We believe that Mitel has a low exposure to hardware, and with its virtualization strategy, strong differentiation, which makes Mitel Networks' earning leverage among the highest of its peers. As the company continues to build market share, there is higher possibility that in H2'13, revenue performance could exceed our estimates, especially if macro uncertainty declines.”
Mitel Networks Corporation closed on Thursday at $2.56.
Latest Ratings for MITL
|May 2014||Canaccord Genuity||Maintains||Buy|
|Feb 2014||Cormark Securities||Upgrades||Buy||Top Pick|
|Apr 2013||RBC Capital||Initiates Coverage on||Sector Perform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.