Zegona Communications (LON:ZEG) Price Target Raised to GBX 1,500

Key Points

• Canaccord Genuity Group has raised the price target for Zegona Communications from GBX 980 to GBX 1,500, indicating a potential upside of 16.73% from its previous close.
• Other analysts, such as Deutsche Bank and Berenberg Bank, also increased their price targets, with an average consensus price target now at GBX 1,466.67.
• Zegona Communications shares are currently trading at GBX 1,285, reflecting a 4.5% increase during midday trading.

Zegona Communications (LON:ZEG - Get Free Report) had its price objective hoisted by equities researchers at Canaccord Genuity Group from GBX 980 to GBX 1,500 in a report released on Wednesday,Digital Look reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 16.73% from the stock's previous close.

A number of other equities research analysts have also weighed in on ZEG. Deutsche Bank Aktiengesellschaft boosted their target price on Zegona Communications from GBX 1,030 to GBX 1,550 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Berenberg Bank upped their price target on Zegona Communications from GBX 1,000 to GBX 1,350 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 1,466.67.

Zegona Communications Trading Up 4.5%

Shares of ZEG traded up GBX 55 during midday trading on Wednesday, reaching GBX 1,285. The stock had a trading volume of 2,756,893 shares, compared to its average volume of 502,296. Zegona Communications has a 12-month low of GBX 292 and a 12-month high of GBX 1,315. The company's 50-day moving average is GBX 1,093.58 and its 200 day moving average is GBX 827.08. The company has a market capitalization of £9.76 billion, a price-to-earnings ratio of 11,681.82 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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