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

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research note issued on Wednesday,London Stock Exchange reports. They presently have a GBX 1,500 target price on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 11.11% from the stock’s current price.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,350 target price on shares of Zegona Communications in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Zegona Communications has an average rating of “Buy” and a consensus price target of GBX 1,466.67.

Zegona Communications Price Performance

Shares of ZEG stock traded up GBX 5 during mid-day trading on Wednesday, hitting GBX 1,350. The company had a trading volume of 447,050 shares, compared to its average volume of 517,192. The stock’s 50 day moving average price is GBX 1,242.94 and its 200-day moving average price is GBX 1,000.96. Zegona Communications has a 52-week low of GBX 308 and a 52-week high of GBX 1,385. The company has a market capitalization of £10.25 billion, a P/E ratio of 122.73 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.