Telit Communications Plc (LON:TCM) had its price objective lifted by research analysts at Canaccord Genuity from GBX 310 ($3.87) to GBX 325 ($4.06) in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 21.16% from the company’s previous close.
Several other brokerages also recently weighed in on TCM. Peel Hunt restated a “buy” rating and set a GBX 320 ($4.00) target price on shares of Telit Communications Plc in a research note on Friday, October 14th. Royal Bank Of Canada initiated coverage on Telit Communications Plc in a research note on Friday, September 23rd. They set an “outperform” rating and a GBX 325 ($4.06) target price on the stock.
Telit Communications Plc (LON:TCM) traded down 0.37% during mid-day trading on Tuesday, hitting GBX 268.25. The company had a trading volume of 488,382 shares. The firm’s market capitalization is GBX 308.05 million. Telit Communications Plc has a 12 month low of GBX 167.75 and a 12 month high of GBX 284.75. The company has a 50-day moving average price of GBX 263.29 and a 200 day moving average price of GBX 244.95.
In other news, insider Cats,Oozi purchased 100,000 shares of the stock in a transaction on Monday, September 12th. The stock was bought at an average price of GBX 229 ($2.86) per share, with a total value of £229,000 ($286,106.95).