Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Zegona Communications (LON:ZEG) Stock

Key Points

• Deutsche Bank Aktiengesellschaft raised its target price for Zegona Communications from GBX 1,030 to GBX 1,550, indicating a potential upside of 42.86% from its previous close.
• Canaccord Genuity Group also increased their price target for Zegona from GBX 825 to GBX 980, maintaining a "buy" rating on the stock.
• Zegona's shares traded up 3.8%, reaching GBX 1,085 during trading, with a market capitalization of £10.06 billion.

Zegona Communications (LON:ZEG - Get Free Report) had its target price hoisted by research analysts at Deutsche Bank Aktiengesellschaft from GBX 1,030 ($13.91) to GBX 1,550 ($20.93) in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 42.86% from the company's previous close.

Separately, Canaccord Genuity Group lifted their price target on shares of Zegona Communications from GBX 825 ($11.14) to GBX 980 ($13.23) and gave the stock a "buy" rating in a report on Monday, July 21st.

Zegona Communications Trading Up 3.8%

Shares of ZEG traded up GBX 40 ($0.54) during trading hours on Wednesday, reaching GBX 1,085 ($14.65). The company had a trading volume of 446,519 shares, compared to its average volume of 486,240. The firm has a 50 day simple moving average of GBX 784.69 and a 200-day simple moving average of GBX 674.04. Zegona Communications has a 12-month low of GBX 292 ($3.94) and a 12-month high of GBX 1,110 ($14.99). The company has a market capitalization of £10.06 billion, a price-to-earnings ratio of -89.96 and a beta of 2.80.

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.

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