Peel Hunt Reaffirms “Buy” Rating for Telit Communications Plc (TCM)

Peel Hunt reaffirmed their buy rating on shares of Telit Communications Plc (LON:TCM) in a research report report published on Friday. They currently have a GBX 320 ($3.90) price target on the stock.

Several other equities research analysts have also recently weighed in on TCM. Canaccord Genuity reissued a buy rating and set a GBX 280 ($3.41) price target on shares of Telit Communications Plc in a research report on Tuesday, July 26th. Royal Bank Of Canada started coverage on shares of Telit Communications Plc in a research report on Friday, September 23rd. They set an outperform rating and a GBX 325 ($3.96) price target for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of GBX 301.25 ($3.67).

Shares of Telit Communications Plc (LON:TCM) opened at 268.00 on Friday. Telit Communications Plc has a 52-week low of GBX 167.75 and a 52-week high of GBX 304.00. The stock’s 50 day moving average is GBX 255.88 and its 200 day moving average is GBX 234.54. The company’s market capitalization is GBX 307.76 million.

In other news, insider Fait ,Yosi sold 210,227 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of GBX 265 ($3.23), for a total value of £557,101.55 ($678,978.12). Also, insider Cats,Oozi bought 100,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was bought at an average cost of GBX 229 ($2.79) per share, with a total value of £229,000 ($279,098.11).

Telit Communications Plc Company Profile

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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