Telit Communications Plc’s (TCM) Buy Rating Reiterated at Canaccord Genuity
Telit Communications Plc (LON:TCM)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a research report issued on Tuesday. They currently have a GBX 280 ($3.65) price objective on the stock. Canaccord Genuity’s price target points to a potential upside of 0.72% from the company’s current price.
Several other brokerages also recently issued reports on TCM. Peel Hunt restated a “buy” rating and issued a GBX 260 ($3.39) price target on shares of Telit Communications Plc in a report on Thursday, May 12th. Berenberg Bank restated a “hold” rating and issued a GBX 250 ($3.26) price target on shares of Telit Communications Plc in a report on Tuesday, April 19th. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. Telit Communications Plc has a consensus rating of “Buy” and an average target price of GBX 286.25 ($3.74).
Shares of Telit Communications Plc (LON:TCM) traded up 1.0909% on Tuesday, hitting GBX 276.7419. The company had a trading volume of 446,084 shares. Telit Communications Plc has a 12-month low of GBX 167.75 and a 12-month high of GBX 336.00. The firm’s market capitalization is GBX 317.80 million. The firm has a 50 day moving average of GBX 252.18 and a 200-day moving average of GBX 231.78.
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In other news, insider Cats,Oozi acquired 100,000 shares of Telit Communications Plc stock in a transaction dated Monday, September 12th. The stock was bought at an average cost of GBX 229 ($2.99) per share, with a total value of £229,000 ($298,916.59). Also, insider Fait ,Yosi sold 140,152 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of GBX 265 ($3.46), for a total value of £371,402.80 ($484,796.76).
About Telit Communications Plc
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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