Cable & Wireless closer to acquiring Columbus International, downgraded to hold by Deutsche Bank
Cable & Wireless Communications (CWC) is a step closer to completing its acquisition of Columbus International Inc, a leading, privately owned fibre-based telecommunications and technology provider that operates in the Caribbean, Central America and the Andean region.
Cable & Wireless Communications
74.60p
17:00 13/05/16
CWC agreed the terms of the contract to receive 100% of the equity of Columbus International for $1.85bn
Meanwhile, investment analysts at Deutsche Bank downgraded CWC to a ‘hold’ rating in a note issued to investors on Tuesday.
With a current 53p price target on the stock, down from their precious price target of 60p, Deutsche Bank’s price objective points to a potential upside of 9.8% from the stock’s previous close. Two investment analysts have rated the stock with a sell rating, six with a hold rating and three with a buy rating. The company currently has a consensus rating of 'hold' and an average price target of 55.33p.