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Research analysts at Canaccord Genuity upped their price objective on shares of Mitel Networks (NASDAQ:MITL) from $12.00 to $14.00 in a report released on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 29.21% from the stock’s previous close.

Mitel Networks (NASDAQ:MITL) opened at 10.83 on Friday. Mitel Networks has a one year low of $3.25 and a one year high of $11.34. The stock’s 50-day moving average is $9.62 and its 200-day moving average is $8.95. The company’s market cap is $1.070 billion.

Mitel Networks (NASDAQ:MITL) last released its earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.04. The company had revenue of $241.50 million for the quarter, compared to the consensus estimate of $146.50 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 68.8% on a year-over-year basis. Analysts expect that Mitel Networks will post $0.93 EPS for the current fiscal year.

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

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