Zegona Communications (LON:ZEG) Hits New 52-Week High - Should You Buy?

Key Points

• Zegona Communications plc reached a new 52-week high, trading at GBX 1,040 ($13.98) before settling at GBX 1,030 ($13.85) with a volume of over 1.36 million shares.
• Analysts have raised their target price for Zegona, with Canaccord Genuity increasing it from GBX 825 ($11.09) to GBX 980 ($13.18) and Deutsche Bank maintaining a target price of GBX 1,030 ($13.85).
• The company's market capitalization stands at £9.55 billion, with a current PE ratio of -85.40, indicating potential volatility in its stock performance.

Zegona Communications plc (LON:ZEG - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as GBX 1,040 ($14.12) and last traded at GBX 1,030 ($13.99), with a volume of 1365914 shares traded. The stock had previously closed at GBX 994 ($13.50).

Analyst Upgrades and Downgrades

ZEG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zegona Communications from GBX 1,030 ($13.99) to GBX 1,550 ($21.05) and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Zegona Communications from GBX 825 ($11.20) to GBX 980 ($13.31) and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Berenberg Bank upped their price objective on Zegona Communications from GBX 1,000 ($13.58) to GBX 1,350 ($18.33) and gave the stock a "buy" rating in a report on Tuesday.

Zegona Communications Price Performance

The stock's 50-day moving average price is GBX 792.11 and its 200 day moving average price is GBX 676.88. The firm has a market cap of £10.18 billion, a P/E ratio of -91.07 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.