Zegona Communications (LON:ZEG) Sets New 52-Week High - Still a Buy?

Key Points

• Zegona Communications reached a new 52-week high of GBX 1,220 during trading on Thursday, reflecting a strong market performance with over 597,000 shares traded.
• Analysts from Deutsche Bank, Canaccord Genuity, and Berenberg Bank have increased their price targets for Zegona Communications, indicating a consensus rating of "Buy" and an average price target of GBX 1,293.33.
• The company, with a market capitalization of £9.34 billion, employs a "Buy-Fix-Sell" strategy to acquire businesses in the European TMT sector, aiming to deliver attractive returns to shareholders.

Shares of Zegona Communications plc (LON:ZEG - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as GBX 1,220 ($16.60) and last traded at GBX 1,210 ($16.46), with a volume of 597226 shares traded. The stock had previously closed at GBX 1,200 ($16.32).

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZEG. Canaccord Genuity Group boosted their price objective on Zegona Communications from GBX 825 to GBX 980 and gave the stock a "buy" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Berenberg Bank boosted their price objective on Zegona Communications from GBX 1,000 to GBX 1,350 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 1,293.33.

Zegona Communications Price Performance

The stock has a market capitalization of £9.14 billion, a P/E ratio of 10,944.11 and a beta of 2.80. The company has a 50 day simple moving average of GBX 993.53 and a 200-day simple moving average of GBX 780.63.

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.