Zegona Communications’ (ZEG) Buy Rating Reiterated at Berenberg Bank

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by Berenberg Bank in a research note issued on Tuesday,London Stock Exchange reports. They presently have a GBX 1,350 price target on the stock. Berenberg Bank’s price target points to a potential upside of 0.31% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ZEG. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 1,500 target price on shares of Zegona Communications in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 1,466.67.

Zegona Communications Stock Down 0.7%

Shares of ZEG traded down GBX 9.12 on Tuesday, hitting GBX 1,345.88. The company’s stock had a trading volume of 589,110 shares, compared to its average volume of 517,498. The firm has a market capitalization of £10.22 billion, a price-to-earnings ratio of 122.35 and a beta of 2.80. The firm’s fifty day moving average price is GBX 1,240.13 and its 200-day moving average price is GBX 996.20. Zegona Communications has a fifty-two week low of GBX 308 and a fifty-two week high of GBX 1,385.

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.