Zegona Communications (LON:ZEG) Given Buy Rating at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “Buy” rating on Zegona Communications and set a GBX 2,300 price target, implying 41.63% upside from the prior close.
• Other analysts remain bullish: Canaccord Genuity and Deutsche Bank also maintain “Buy” ratings, while the consensus target is GBX 2,333.33.
• Zegona shares opened at GBX 1,624, with the company valued at approximately £3.66 billion; insiders own 41.81% of the stock and recently reported purchases.

Zegona Communications (LON:ZEG - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Berenberg Bank in a research report issued to clients and investors on Friday, London Stock Exchange reports. They presently have a GBX 2,300 price objective on the stock. Berenberg Bank's price objective suggests a potential upside of 41.63% from the stock's previous close.

Several other brokerages have also issued reports on ZEG. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 2,500 price target on shares of Zegona Communications in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 2,200 price target on shares of Zegona Communications in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 2,333.33.

Zegona Communications Stock Up 1.2%

Shares of Zegona Communications stock opened at GBX 1,624 on Friday. Zegona Communications has a 52-week low of GBX 1,135.50 and a 52-week high of GBX 1,962. The stock has a market capitalization of £3.66 billion, a price-to-earnings ratio of -54.13 and a beta of 3.41. The company has a debt-to-equity ratio of 592.64, a quick ratio of 6.23 and a current ratio of 0.70. The company's 50 day moving average price is GBX 1,536.70 and its 200-day moving average price is GBX 1,677.19.

Insider Buying and Selling at Zegona Communications

In other Zegona Communications news, insider Suzi Williams acquired 1,632 shares of the company's stock in a transaction dated Monday, June 29th. The shares were acquired at an average cost of GBX 1,716 per share, with a total value of £28,005.12. Also, insider Timothy Pennington purchased 6,588 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were purchased at an average price of GBX 15 per share, for a total transaction of £988.20. 41.81% of the stock is owned by corporate insiders.

About Zegona Communications

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson. In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.

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