Barclays Lowers Millicom International Cellular (NASDAQ:TIGO) Price Target to $36.00

Millicom International Cellular (NASDAQ:TIGO) had its price objective cut by analysts at Barclays from $310.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 26.36% from the company’s previous close.

TIGO has been the topic of a number of other research reports. HSBC raised 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. Scotiabank increased their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research report on Friday, February 28th. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Morgan Stanley began coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $28.49 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $28.21 and its two-hundred day moving average price is $26.94. Millicom International Cellular has a 52-week low of $19.50 and a 52-week high of $31.63. The stock has a market capitalization of $4.90 billion, a P/E ratio of 30.31 and a beta of 1.23.

Institutional Trading of Millicom International Cellular

A number of institutional investors and hedge funds have recently made changes to their positions in TIGO. State of Wyoming bought a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $49,000. National Bank of Canada FI bought a new position in shares of Millicom International Cellular in the third quarter valued at approximately $76,000. Point72 Asset Management L.P. acquired a new stake in shares of Millicom International Cellular in the third quarter worth $87,000. Blue Trust Inc. boosted its holdings in shares of Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after buying an additional 1,544 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after buying an additional 2,055 shares during 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.