Telit Communications (TCM) Price Target Cut to GBX 170

Telit Communications (LON:TCM) had its price target lowered by equities researchers at Royal Bank of Canada from GBX 180 ($2.42) to GBX 170 ($2.29) in a report issued on Monday. The brokerage currently has a “sector performer” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 9.50% from the stock’s previous close.

Shares of Telit Communications (TCM) opened at GBX 153.75 ($2.07) on Monday. Telit Communications has a 1-year low of GBX 100.25 ($1.35) and a 1-year high of GBX 379 ($5.10).

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About Telit Communications

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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