JPMorgan Chase & Co. Raises Airtel Africa (LON:AAF) Price Target to GBX 105

Airtel Africa (LON:AAF) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from GBX 93 ($1.17) to GBX 105 ($1.32) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 9.40% from the company’s previous close.

Separately, Barclays cut their target price on shares of Airtel Africa from GBX 170 ($2.14) to GBX 150 ($1.88) and set an “overweight” rating for the company in a research note on Tuesday, February 6th.

Airtel Africa Stock Performance

AAF stock remained flat at GBX 115.90 ($1.46) during trading on Wednesday. 2,752,770 shares of the company traded hands, compared to its average volume of 2,716,545. The company has a fifty day moving average price of GBX 103.05 and a 200 day moving average price of GBX 111.30. Airtel Africa has a 12-month low of GBX 90.20 ($1.13) and a 12-month high of GBX 135.80 ($1.71). The company has a market capitalization of £4.35 billion, a PE ratio of 1,655.71, a price-to-earnings-growth ratio of 0.58 and a beta of 1.01. The company has a debt-to-equity ratio of 156.18, a quick ratio of 0.26 and a current ratio of 0.58.

Insider Buying and Selling

In other Airtel Africa news, insider Shravin Bharti Mittal bought 922 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of GBX 100 ($1.26) per share, with a total value of £922 ($1,158.29). Corporate insiders own 72.85% of the company’s stock.

About Airtel Africa

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.