ZTE (OTCMKTS:ZTCOY) Upgraded by Zacks Investment Research to “Buy”

ZTE (OTCMKTS:ZTCOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $6.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.61% from the company’s current price.

According to Zacks, “ZTE Corporation is engaged in providing telecom equipment and networking solutions to telecom operators. The company offers wireless communications systems, wireline switch and access equipment, optical and data communications equipment, mobile phone handsets, data card products, and telecommunications software systems. It also engages in the production of remote control switch systems, multimedia communications systems, and communications transmission systems. The company also provides technical design, development, consultation, and related services for the research, manufacture and production of mobile communications systems equipment, satellite communications, microwave communications equipment, beepers, computer hardware and software, closed-circuit TVs, microwave communications, automated signal control, computer information processing, process monitoring systems, and fire alarm systems. ZTE Corporation is based in Shenzhen, the People’s Republic of China. “

Separately, Jefferies Financial Group upgraded shares of ZTE from an “underperform” rating to a “hold” rating in a report on Wednesday, March 17th.

ZTCOY opened at $5.19 on Thursday. The firm’s fifty day moving average is $5.29 and its two-hundred day moving average is $5.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a market cap of $11.97 billion, a PE ratio of 15.26 and a beta of 1.14. ZTE has a twelve month low of $4.31 and a twelve month high of $7.24.

About ZTE

ZTE Corporation provides integrated telecommunications and information technology (IT) solutions worldwide. It operates through three segments: Carriers' Networks, Consumer Business, and Government and Corporate Business. The company offers wireless products, such as baseband units, AAU series, ultra-broadband radio series, indoor coverage, small cell base station series, and microwave products.

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