Zacks Investment Research Upgrades Spark New Zealand Ltd (NASDAQ:SPKKY) to Strong-Buy
Spark New Zealand Ltd (NASDAQ:SPKKY) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research report issued on Wednesday, July 5th. The firm presently has a $16.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.29% from the company’s current price.
According to Zacks, “Spark New Zealand Limited provides digital services. The company operates through five segments: Retail, Wholesale & International, Gen-i, AAPT, and Technology & Shared Services. It provides fixed line, mobile, and Internet services, voice, interconnect, managed data, and international products and services and telecommunication services. The Company integrates IT and telecommunications services to provide converged information and communication technologies solutions. Spark New Zealand Limited, formerly known as Telecom Corporation of New Zealand Limited, is headquartered in Auckland, New Zealand. “
Spark New Zealand (SPKKY) traded up 0.36% on Wednesday, hitting $14.00. 16,438 shares of the stock were exchanged. Spark New Zealand has a 1-year low of $11.65 and a 1-year high of $14.51. The company has a 50-day moving average price of $13.29 and a 200 day moving average price of $12.69. The company has a market capitalization of $5.13 billion and a PE ratio of 89.74.
About Spark New Zealand
Spark New Zealand Limited is a supplier of telecommunications and digital services in New Zealand. The Company operates through three segments: Spark Home, Mobile & Business; Spark Digital, and Spark Connect. The Spark Home, Mobile & Business segment provides fixed line, mobile and Internet services to consumers and the small medium business market, and includes Spark Ventures.
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