Peel Hunt Reiterates “Buy” Rating for Telit Communications Plc (TCM)
Telit Communications Plc (LON:TCM)‘s stock had its “buy” rating reiterated by investment analysts at Peel Hunt in a report issued on Friday. They presently have a GBX 320 ($3.96) target price on the stock. Peel Hunt’s price target suggests a potential upside of 21.90% from the stock’s previous close.
Several other brokerages have also recently weighed in on TCM. Canaccord Genuity reissued a “buy” rating and set a GBX 280 ($3.47) price target on shares of Telit Communications Plc in a research report on Monday, August 15th. Royal Bank Of Canada initiated coverage on shares of Telit Communications Plc in a research report on Friday, September 23rd. They set an “outperform” rating and a GBX 325 ($4.02) price target on the stock. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of GBX 301.25 ($3.73).
Shares of Telit Communications Plc (LON:TCM) opened at 265.50 on Friday. The stock has a 50 day moving average of GBX 254.30 and a 200-day moving average of GBX 233.27. Telit Communications Plc has a 12-month low of GBX 167.75 and a 12-month high of GBX 336.00. The company’s market capitalization is GBX 304.89 million.
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In related news, insider Cats,Oozi acquired 100,000 shares of Telit Communications Plc stock in a transaction that occurred on Monday, September 12th. The shares were purchased at an average cost of GBX 229 ($2.83) per share, for a total transaction of £229,000 ($283,415.84). Also, insider Fait ,Yosi sold 140,152 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of GBX 265 ($3.28), for a total transaction of £371,402.80 ($459,656.93).
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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