National Bank Downgrades Mitel Networks Corp to Hold

By Ryan Adsit

Mitel Networks Corp (NASDAQ: MITL) received a Hold rating from National Bank analyst Richard Tse today. The company’s shares opened today at $9.33, close to its 52-week high of $9.85.

Tse has an average return of 8.2% when recommending Mitel Networks Corp.

According to TipRanks.com, Tse is ranked #488 out of 4766 analysts.

Mitel Networks Corp has an analyst consensus of Hold, with a price target consensus of $9.50.

Based on Mitel Networks Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $356 million and GAAP net loss of $1.7 million. In comparison, last year the company earned revenue of $223 million and had a GAAP net loss of $29 million.

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Mitel Networks Corp. engages in the provision of cloud and enterprise communications and collaboration solutions through software product development. It operates through Cloud and Enterprise segments.