Cellnex Telecom (OTCMKTS:CLNXF) Upgraded to Buy at Citigroup

Cellnex Telecom (OTCMKTS:CLNXFGet Rating) was upgraded by investment analysts at Citigroup to a “buy” rating in a report issued on Thursday, TipRanks reports. The firm currently has a $49.00 price objective on the stock. Citigroup’s target price suggests a potential upside of 6.64% from the stock’s previous close.

CLNXF has been the subject of a number of other reports. Barclays boosted their target price on shares of Cellnex Telecom from €66.00 ($70.97) to €67.00 ($72.04) and gave the company an “overweight” rating in a research note on Monday, February 28th. Credit Suisse Group reduced their target price on shares of Cellnex Telecom from €70.00 ($75.27) to €65.00 ($69.89) and set an “outperform” rating for the company in a research note on Monday, February 28th.

Cellnex Telecom stock traded up $1.08 during midday trading on Thursday, reaching $45.95. 361 shares of the stock traded hands, compared to its average volume of 1,723. The firm has a fifty day moving average price of $46.39 and a two-hundred day moving average price of $49.14. Cellnex Telecom has a fifty-two week low of $41.69 and a fifty-two week high of $71.96.

About Cellnex Telecom (Get Rating)

Cellnex Telecom SA engages in the operation of wireless telecommunications and broadcasting infrastructures. Its business activities include rental of sites for telecom operators, broadcast infrastructure activity, and other network services. It operates through the following geographical segments: Spain, Italy, Netherlands, France, Switzerland, and Other Countries.

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