Canaccord Genuity Reiterates “Buy” Rating for Telit Communications Plc (TCM)
Telit Communications Plc (LON:TCM)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a GBX 310 ($3.84) price target on the stock. Canaccord Genuity’s price objective would suggest a potential upside of 18.10% from the company’s previous close.
Several other analysts have also recently commented on TCM. Peel Hunt restated a “buy” rating and set a GBX 260 ($3.22) target price on shares of Telit Communications Plc in a report on Monday, August 8th. Royal Bank Of Canada started coverage on Telit Communications Plc in a report on Friday, September 23rd. They set an “outperform” rating and a GBX 325 ($4.02) target price on the stock. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 301.25 ($3.73).
Shares of Telit Communications Plc (LON:TCM) opened at 267.75 on Friday. The firm’s 50-day moving average price is GBX 254.30 and its 200 day moving average price is 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 firm’s market cap is GBX 307.48 million.
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In other news, insider Cats,Oozi purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were acquired at an average price 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 firm’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 value 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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