Zegona Communications (LON:ZEG) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank raised Zegona Communications' price target to GBX 1,350, suggesting a potential upside of 24.42% from its previous close.
• Other brokerages, including Canaccord Genuity and Deutsche Bank, also upgraded their price targets, reflecting positive sentiment with multiple "buy" ratings.
• Zegona's shares rose 3.8% during trading, reaching GBX 1,085, with a market capitalization of £10.06 billion.

Zegona Communications (LON:ZEG - Free Report) had its target price upped by Berenberg Bank from GBX 1,000 ($13.51) to GBX 1,350 ($18.24) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Zegona Communications from GBX 825 ($11.14) to GBX 980 ($13.24) and gave the stock a "buy" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zegona Communications from GBX 1,030 ($13.91) to GBX 1,550 ($20.94) and gave the company a "buy" rating in a report on Wednesday, August 13th.

Zegona Communications Trading Down 0.1%

ZEG traded down GBX 0.79 ($0.01) on Tuesday, hitting GBX 1,090 ($14.72). 225,318 shares of the company's stock were exchanged, compared to its average volume of 481,772. Zegona Communications has a fifty-two week low of GBX 292 ($3.94) and a fifty-two week high of GBX 1,135 ($15.33). The firm has a 50-day moving average price of GBX 815.93 and a 200-day moving average price of GBX 694.25. The stock has a market cap of £10.10 billion, a price-to-earnings ratio of -90.38 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.