Royal Bank Of Canada Lowers Telit Communications Plc (LON:TCM) Price Target to GBX 225
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.
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).
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