Zegona Communications (LON:ZEG) Hits New 12-Month High – Here’s Why

Shares of Zegona Communications plc (LON:ZEG) hit a new 52-week high during trading on Monday . The company traded as high as GBX 1,350 and last traded at GBX 1,345, with a volume of 2455451 shares. The stock had previously closed at GBX 1,280.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted 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 report on Wednesday, August 13th. Berenberg Bank lifted their target price 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. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 1,500 price target on shares of Zegona Communications in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 1,466.67.

Zegona Communications Trading Up 5.9%

The company has a market capitalization of £10.29 billion, a P/E ratio of 123.18 and a beta of 2.80. The company’s 50 day moving average is GBX 1,237.67 and its 200-day moving average is GBX 991.32.

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.