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Digi Communications, a Romanian telecommunication operator registered in the Netherlands and operating in Romania, Spain, and Italy, has received a BUY recommendation from brokerage house Concorde. This recommendation comes after Digi announced robust financial results on August 14.

In the first half of the year, Digi reported total revenues of EUR 809 million, a 12.9% increase compared to the same period last year. The pretax EBITDA earnings also rose by 14.2% to EUR 279.5 million.

The positive financial results were attributed to exceptional revenues in 2022 from the sale of operations in Hungary, as well as a good start to 2023.

Digi Communications, listed on the Bucharest Stock Exchange (BVB) since 2017, currently has a market capitalization of RON 3.48 billion (over EUR 700 million) based on a closing price of RON 34.8.

Brokerage house Concorde has set a 12-month target price of RON 47 for Digi’s shares, reflecting a potential gain of 35% compared to the current market price. This recommendation indicates confidence in Digi’s prospects for future growth and success in the telecommunications industry.

These strong financial results and the subsequent BUY recommendation are positive developments for Digi Communications and its shareholders.

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