Millicom International Cellular (NASDAQ:TIGO) Stock Price Expected to Rise, Scotiabank Analyst Says

Millicom International Cellular (NASDAQ:TIGO) had its price target raised by equities research analysts at Scotiabank from $37.30 to $37.90 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential upside of 44.22% from the stock’s current price.

Several other equities research analysts also recently commented on TIGO. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, January 22nd. Morgan Stanley started coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Millicom International Cellular presently has an average rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Trading Down 3.2 %

TIGO opened at $26.28 on Friday. Millicom International Cellular has a 1-year low of $17.62 and a 1-year high of $28.98. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company has a market cap of $4.52 billion, a P/E ratio of 27.96 and a beta of 1.18. The company has a fifty day moving average price of $26.23 and a two-hundred day moving average price of $26.39.

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in shares of Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock valued at $227,000 after purchasing an additional 545 shares during the period. MML Investors Services LLC raised its position in shares of Millicom International Cellular by 5.3% in the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after purchasing an additional 750 shares during the period. Principal Securities Inc. raised its position in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock valued at $176,000 after purchasing an additional 1,277 shares during the period. Blue Trust Inc. increased its holdings in Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,367 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock worth $3,868,000 after purchasing an additional 1,500 shares in the last quarter.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.