ZTE (OTCMKTS:ZTCOY) Upgraded by Zacks Investment Research to “Buy”

ZTE (OTCMKTS:ZTCOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The firm currently has a $6.00 price target on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.61% from the stock’s current price.

According to Zacks, “ZTE Corporation is engaged in providing telecom equipment and networking solutions to telecom operators. The company offers wireless communications systems, wireline switch and access equipment, optical and data communications equipment, mobile phone handsets, data card products, and telecommunications software systems. It also engages in the production of remote control switch systems, multimedia communications systems, and communications transmission systems. The company also provides technical design, development, consultation, and related services for the research, manufacture and production of mobile communications systems equipment, satellite communications, microwave communications equipment, beepers, computer hardware and software, closed-circuit TVs, microwave communications, automated signal control, computer information processing, process monitoring systems, and fire alarm systems. ZTE Corporation is based in Shenzhen, the People’s Republic of China. “

Separately, Jefferies Financial Group raised shares of ZTE from an “underperform” rating to a “hold” rating in a report on Wednesday, March 17th.

ZTE stock opened at $5.19 on Thursday. ZTE has a twelve month low of $4.31 and a twelve month high of $7.24. The company’s 50-day moving average price is $5.29 and its two-hundred day moving average price is $5.18. The stock has a market cap of $11.97 billion, a P/E ratio of 15.26 and a beta of 1.14. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.39.

About ZTE

ZTE Corporation provides integrated telecommunications and information technology (IT) solutions worldwide. It operates through three segments: Carriers' Networks, Consumer Business, and Government and Corporate Business. The company offers wireless products, such as baseband units, AAU series, ultra-broadband radio series, indoor coverage, small cell base station series, and microwave products.

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