Craig-Hallum Downgrades Mitel Networks Corp to Hold

In a report released today, George Sutton from Craig-Hallum downgraded Mitel Networks Corp (NASDAQ: MITL) to Hold. The company’s shares closed yesterday at $11.14, close to its 52-week high of $11.31.

According to TipRanks.com, Sutton is a 5-star analyst with an average return of 37.2% and a 71.2% success rate. Sutton covers the Technology sector, focusing on stocks such as GTT Communications, Mattersight Corp, and RingCentral.

Mitel Networks Corp has an analyst consensus of Hold, with a price target consensus of $11.15.

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Based on Mitel Networks Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $21 million. In comparison, last year the company 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.