Telit Communications Plc (TCM) Given ” Buy” Rating at Canaccord Genuity
Telit Communications Plc (LON:TCM)‘s stock had its ” buy” rating reiterated by equities researchers at Canaccord Genuity in a research note issued to investors on Friday. They currently have a GBX 310 ($3.84) price objective on the stock. Canaccord Genuity’s target price points to a potential upside of 18.10% from the stock’s previous close.
Several other brokerages have also issued reports on TCM. Peel Hunt restated a “buy” rating and set a GBX 320 ($3.96) price target on shares of Telit Communications Plc in a research note on Friday. Royal Bank Of Canada began coverage on Telit Communications Plc in a research note on Friday, September 23rd. They issued an “outperform” rating and a GBX 325 ($4.02) price objective on the stock. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of GBX 301.25 ($3.73).
Telit Communications Plc (LON:TCM) opened at 267.75 on Friday. The stock’s 50 day moving average price is GBX 254.30 and its 200 day moving average price is GBX 233.27. The firm’s market capitalization is GBX 307.48 million. Telit Communications Plc has a 12 month low of GBX 167.75 and a 12 month high of GBX 336.00.
In other news, insider Fait ,Yosi sold 210,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of GBX 265 ($3.28), for a total value of £557,101.55 ($689,482.12). Also, insider Cats,Oozi bought 100,000 shares of Telit Communications Plc stock in a transaction dated Monday, September 12th. The stock was acquired at an average cost of GBX 229 ($2.83) per share, for a total transaction of £229,000 ($283,415.84).
About Telit Communications Plc
Telit Communications PLC (Telit) is a United Kingdom-based enabler of machine-to-machine (M2M) communications providing cellular, short range and positioning modules via its brand Telit Wireless Solutions. The Company develops and markets cellular, global navigation satellite system (GNSS), short-to-long range wireless modules plus mobile connectivity services and application enablement platform to onboard edge devices to the Internet of Things (IoT).
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