Telit Communications Plc (LON:TCM) had its price target cut by investment analysts at Royal Bank Of Canada from GBX 300 ($3.91) to GBX 225 ($2.93) in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 85.19% from the company’s previous close.

Several other brokerages have also issued reports on TCM. Canaccord Genuity increased their target price on Telit Communications Plc from GBX 355 ($4.62) to GBX 390 ($5.08) and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Berenberg Bank reissued a “buy” rating and issued a GBX 415 ($5.40) target price on shares of Telit Communications Plc in a research report on Tuesday, May 23rd. Finally, Morgan Stanley decreased their target price on Telit Communications Plc from GBX 350 ($4.56) to GBX 269 ($3.50) and set an “overweight” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of GBX 287.80 ($3.75).

Shares of Telit Communications Plc (TCM) opened at 124.75 on Thursday. The firm’s market capitalization is GBX 144.06 million. Telit Communications Plc has a 12-month low of GBX 100.25 and a 12-month high of GBX 379.00. The stock’s 50 day moving average price is GBX 277.94 and its 200 day moving average price is GBX 310.96.

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In related news, insider Yosi Fait sold 16,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of GBX 315 ($4.10), for a total transaction of £53,228.70 ($69,317.23). Also, insider Oozi Cats acquired 75,215 shares of Telit Communications Plc stock in a transaction that occurred on Thursday, June 29th. The shares were bought at an average cost of GBX 312 ($4.06) per share, with a total value of £234,670.80 ($305,600.73). In the last ninety days, insiders have sold 7,187,653 shares of company stock valued at $2,439,814,170.

Telit Communications Plc Company Profile

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).

Analyst Recommendations for Telit Communications Plc (LON:TCM)

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