Zegona Communications (LON:ZEG) Sets New 52-Week High - Time to Buy?

Key Points

• Zegona Communications has reached a new 52-week high, trading at GBX 1,280 ($17.19), indicating strong market performance.
• Several Wall Street analysts have upgraded their price targets for Zegona Communications, with the average target now at GBX 1,293.33 and all giving the stock a "Buy" rating.
• The company focuses on strategic investments in the European telecommunications, media, and technology (TMT) sector using a "Buy-Fix-Sell" strategy to enhance shareholder returns.

Zegona Communications plc (LON:ZEG - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,280 ($17.19) and last traded at GBX 1,267 ($17.02), with a volume of 2473456 shares trading hands. The stock had previously closed at GBX 1,215 ($16.32).

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZEG. Berenberg Bank lifted their price objective on shares of Zegona Communications from GBX 1,000 to GBX 1,350 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Zegona Communications from GBX 825 to GBX 980 and gave the company a "buy" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of GBX 1,293.33.

Zegona Communications Price Performance

The business's 50 day moving average price is GBX 1,084.66 and its 200-day moving average price is GBX 824.27. The firm has a market capitalization of £9.38 billion, a price-to-earnings ratio of 11,227.27 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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