Telit Communications Plc (TCM) Rating Reiterated by Canaccord Genuity

Telit Communications Plc (LON:TCM)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a note issued to investors on Friday. They currently have a GBX 310 ($3.78) price objective on the stock. Canaccord Genuity’s price objective points to a potential upside of 17.87% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Peel Hunt reissued a “buy” rating and set a GBX 260 ($3.17) price target on shares of Telit Communications Plc in a research note on Monday, August 8th. Royal Bank Of Canada assumed coverage on Telit Communications Plc in a research note on Friday, September 23rd. They set an “outperform” rating and a GBX 325 ($3.96) price target on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 301.25 ($3.67).

Shares of Telit Communications Plc (LON:TCM) opened at 263.50 on Friday. The stock has a 50 day moving average price of GBX 255.54 and a 200-day moving average price of GBX 234.19. The firm’s market capitalization is GBX 302.60 million. Telit Communications Plc has a 52 week low of GBX 167.75 and a 52 week high of GBX 304.25.

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

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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