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Investing.com - Berenberg initiated coverage on Zegona Communications (LON:ZEG) with a Buy rating and a price target of GBP10.00, offering 30% upside potential from current levels.
Zegona Communications, founded in 2015 by former Virgin Media executives, operates with a buy-fix-sell strategy that focuses on acquiring undervalued assets, transforming operations, and selling them to generate strong returns for shareholders.
The company has established a track record of delivering strong returns on its previous investments in Telecable and Euskatel, according to Berenberg’s analysis.
Zegona’s management team now plans to apply its proven strategy to Vodafone (NASDAQ:VOD) Spain, its latest acquisition target.
Berenberg analyst Paul Sidney expressed confidence in the company’s business model and its ability to continue generating value through its strategic approach to telecommunications assets.
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