Zegona Communications (LON:ZEG) Given “Buy” Rating at Canaccord Genuity Group

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a research note issued to investors on Monday,Digital Look reports. They currently have a GBX 1,500 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 20.48% from the company’s previous close.

ZEG has been the topic of several other reports. Berenberg Bank upped their price objective on Zegona Communications from GBX 1,000 to GBX 1,350 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 1,466.67.

Zegona Communications Stock Up 1.2%

Zegona Communications stock traded up GBX 15 during trading hours on Monday, hitting GBX 1,245. The stock had a trading volume of 300,896 shares, compared to its average volume of 481,731. The stock’s 50-day moving average price is GBX 1,227.74 and its 200-day moving average price is GBX 932.16. The stock has a market capitalization of £9.45 billion, a P/E ratio of 113.18 and a beta of 2.80. Zegona Communications has a 12-month low of GBX 292 and a 12-month high of GBX 1,350.

Zegona Communications Company Profile

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.