Mitel Networks upgraded to Outperform at RBC Capital

|About: Mitel Networks Corporation (MITL)|By:, SA News Editor

Mitel Networks (MITL +8.2%) shares climb after RBC Capital upgrades shares to Outperform from Perform and hikes its PT to $8.50 from $5.

Investors are digesting Mitel's acquisition of Aastra Technologies, which the company believes will allow it to continue to deleverage and achieve cost synergies of $45M annually in 2 years' time.