Credit: Shutterstock photoMitel Networks CorporationMITL was a big mover last session, as its shares rose over 6% on the day. The move came after the company entered into an agreement to buy ShoreTel, Inc. for $430 million. This deal is likely to help the company concentrate better in its core business. This led to too far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up over 17% in the past one-month time frame.
The company has seen one negative estimate revision in the last 30 days, while its Zacks Consensus Estimate moved lower over the said time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if Friday's move higher can last.
Mitel Networks currently carries a Zacks Rank #5 (Strong Sell).
Mitel Networks Corporation Price
Mitel Networks Corporation Price | Mitel Networks Corporation Quote
A better-ranked stock from the Wireless Equipment space is DragonWave Inc. DRWI , carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Is MITL going up? Or down? Predict to see what others think: Up or Down
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Mitel Networks Corporation (MITL): Free Stock Analysis Report
DragonWave Inc (DRWI): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
