Zegona Communications (LON:ZEG) Hits New 1-Year High – Time to Buy?

Shares of Zegona Communications plc (LON:ZEG) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 1,350 ($18.13) and last traded at GBX 1,340 ($18.00), with a volume of 203253 shares changing hands. The stock had previously closed at GBX 1,322.57 ($17.76).

Analysts Set New Price Targets

Several brokerages recently issued reports on ZEG. Deutsche Bank Aktiengesellschaft lifted their price objective on Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Canaccord Genuity Group boosted their price target on Zegona Communications from GBX 980 to GBX 1,500 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Berenberg Bank upped their price objective on Zegona Communications from GBX 1,000 to GBX 1,350 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Zegona Communications has a consensus rating of “Buy” and an average target price of GBX 1,466.67.

Zegona Communications Stock Up 1.7%

The company has a 50 day moving average of GBX 1,125.07 and a 200 day moving average of GBX 842.63. The stock has a market capitalization of £10.21 billion, a price-to-earnings ratio of 12,227.27 and a beta of 2.80.

Zegona Communications Company Profile

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.