JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Airtel Africa (LON:AAF) Stock

Airtel Africa (LON:AAF) had its price target boosted by analysts at JPMorgan Chase & Co. from GBX 121 ($1.53) to GBX 128 ($1.62) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 20.19% from the company’s current price.

Separately, Deutsche Bank Aktiengesellschaft lifted their target price on Airtel Africa from GBX 150 ($1.90) to GBX 155 ($1.96) and gave the company a “buy” rating in a research report on Monday, September 23rd.

Airtel Africa Trading Down 0.5 %

LON AAF opened at GBX 106.50 ($1.35) on Wednesday. The firm has a market cap of £3.93 billion, a P/E ratio of -3,550.00, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. The stock’s 50-day moving average is GBX 106.33 and its 200-day moving average is GBX 112.88. Airtel Africa has a one year low of GBX 90.20 ($1.14) and a one year high of GBX 132.50 ($1.68).

Insider Buying and Selling

In other news, insider Shravin Bharti Mittal acquired 688,175 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of GBX 98 ($1.24) per share, with a total value of £674,411.50 ($854,875.78). 72.58% of the stock is owned by insiders.

Airtel Africa Company Profile

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.