Airtel Africa (LON:AAF) was upgraded by JPMorgan Chase & Co. to an “overweight” rating in a research report issued to clients and investors on Thursday, Digital Look reports. The brokerage presently has a GBX 100 ($1.31) price objective on the stock, up from their previous price objective of GBX 72 ($0.94). JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.06% from the stock’s previous close.

Shares of AAF traded up GBX 1.80 ($0.02) during mid-day trading on Thursday, hitting GBX 84.70 ($1.11). 3,954,925 shares of the company traded hands, compared to its average volume of 1,531,547. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 142.79. The business has a 50-day moving average of GBX 80.06 and a 200 day moving average of GBX 75.48. Airtel Africa has a one year low of GBX 33.50 ($0.44) and a one year high of GBX 96.30 ($1.26). The stock has a market capitalization of £3.18 billion and a price-to-earnings ratio of 11.76.

About Airtel Africa

Airtel Africa Plc provides telecommunication and mobile money services to customers in Nigeria, East Africa, and Francophone Africa. The company provides prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services; and mobile money services, such as payments systems, microloans, savings, and international money transfers.

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