Airtel Africa (LON:AAF) Lifted to Overweight at JPMorgan Chase & Co.

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Airtel Africa (LON:AAF) was upgraded by analysts at JPMorgan Chase & Co. to an “overweight” rating in a research note issued on Thursday, Digital Look reports. The firm currently has a GBX 100 ($1.31) price target on the stock, up from their prior price target of GBX 72 ($0.94). JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.06% from the stock’s current price.

AAF stock traded up GBX 1.80 ($0.02) during mid-day trading on Thursday, hitting GBX 84.70 ($1.11). 3,954,925 shares of the company were exchanged, compared to its average volume of 1,531,547. Airtel Africa has a 1-year low of GBX 33.50 ($0.44) and a 1-year high of GBX 96.30 ($1.26). The stock has a market capitalization of £3.18 billion and a PE ratio of 11.76. The business has a 50 day simple moving average of GBX 80.06 and a 200-day simple moving average of GBX 75.48. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 142.79.

About Airtel Africa

Airtel Africa Plc provides telecommunication and mobile money services to customers in Nigeria, East Africa, and Francophone Africa. The company provides prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services; and mobile money services, such as payments systems, microloans, savings, and international money transfers.

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