Zegona Communications (LON:ZEG) Price Target Raised to GBX 1,350

Zegona Communications (LON:ZEG) had its target price upped by Berenberg Bank from GBX 1,000 ($13.53) to GBX 1,350 ($18.27) in a report released on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group increased their price objective on Zegona Communications from GBX 825 ($11.16) to GBX 980 ($13.26) and gave the stock a “buy” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Zegona Communications from GBX 1,030 ($13.94) to GBX 1,550 ($20.97) and gave the company a “buy” rating in a research report on Wednesday.

Zegona Communications Price Performance

Zegona Communications stock opened at GBX 1,098.38 ($14.86) on Tuesday. The stock has a fifty day moving average price of GBX 800.48 and a two-hundred day moving average price of GBX 681.64. Zegona Communications has a 52-week low of GBX 292 ($3.95) and a 52-week high of GBX 1,115 ($15.09). The firm has a market capitalization of £10.18 billion, a P/E ratio of -91.07 and a beta of 2.80.

About Zegona Communications

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.