Zegona Communications (LON:ZEG) Price Target Raised to GBX 980

Zegona Communications (LON:ZEG - Get Free Report) had its target price upped by equities researchers at Canaccord Genuity Group from GBX 825 ($11.21) to GBX 980 ($13.32) in a research note issued on Monday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 26.61% from the company's previous close.

Zegona Communications Price Performance

Zegona Communications stock remained flat at GBX 774 ($10.52) during midday trading on Monday. 1,005,492 shares of the company traded hands, compared to its average volume of 487,689. Zegona Communications has a 1-year low of GBX 292 ($3.97) and a 1-year high of GBX 796 ($10.82). The company has a market capitalization of £7.17 billion, a PE ratio of -64.18 and a beta of 2.80. The stock's 50-day simple moving average is GBX 723.84 and its 200-day simple moving average is GBX 622.18.

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.