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Stifel Nicolaus raised their price target on shares of ShoreTel (NASDAQ:SHOR) from $7.50 to $12.00 in a research note issued on Friday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 29.73% from the company’s current price.

ShoreTel (NASDAQ:SHOR) opened at 9.25 on Friday. ShoreTel has a 52-week low of $3.25 and a 52-week high of $9.52. The stock has a 50-day moving average of $8.36 and a 200-day moving average of $6.00. The company’s market cap is $558.4 million.

ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.07 EPS for the quarter. The company had revenue of $84.29 million for the quarter, compared to the consensus estimate of $80.73 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of ShoreTel from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, November 27th. They now have a $8.70 price target on the stock. Separately, analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of ShoreTel in a research note to investors on Friday, November 1st. Finally, analysts at Northland Securities raised their price target on shares of ShoreTel from $8.00 to $11.00 in a research note to investors on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $9.10.

ShoreTel, Inc is a provider of business communication solutions. The Company’s unified communications (NASDAQ:SHOR) and contact center solutions are based on its Internet protocol (IP) business phone system (IP-PBX).

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