Zegona Communications (LON:ZEG) Sets New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

ZEG has been the topic of a number of recent research reports. Berenberg Bank increased their price target on shares of 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Zegona Communications from GBX 1,030 to GBX 1,550 and gave the company a “buy” rating in a report on Wednesday, August 13th. 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 data from MarketBeat.com, Zegona Communications currently has an average rating of “Buy” and an average target price of GBX 1,466.67.

Zegona Communications Stock Up 5.9%

The stock has a market cap of £10.29 billion, a PE ratio of 123.18 and a beta of 2.80. The business’s 50-day simple moving average is GBX 1,237.67 and its 200-day simple 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.