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Equities research analysts at Sidoti began coverage on shares of Mitel Networks (NASDAQ:MITL) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Shares of Mitel Networks (NASDAQ:MITL) traded up 6.17% on Wednesday, hitting $9.64. 174,131 shares of the company’s stock traded hands. Mitel Networks has a 52-week low of $3.25 and a 52-week high of $10.26. The stock’s 50-day moving average is $9.27 and its 200-day moving average is $6.33. The company has a market cap of $520.0 million and a price-to-earnings ratio of 44.29.

Mitel Networks (NASDAQ:MITL) last announced its earnings results on Thursday, December 5th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.02. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $146.22 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Mitel Networks will post $0.87 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on MITL. Analysts at CIBC reiterated a “sector outperform” rating on shares of Mitel Networks in a research note to investors on Friday, December 6th. Separately, analysts at Canaccord Genuity raised their price target on shares of Mitel Networks from C$8.00 to C$12.00 in a research note to investors on Friday, December 6th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America Corp. set a $11.00 price target on shares of Mitel Networks in a research note to investors on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $10.31.

Mitel Networks Corporation is a provider of integrated communications solutions focused on the small-to-medium sized enterprise (NASDAQ:MITL).

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