JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Millicom International Cellular (NASDAQ:TIGO) Stock

Millicom International Cellular (NASDAQ:TIGO) had its price target increased by analysts at JPMorgan Chase & Co. from $33.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 43.91% from the company’s current price.

A number of other research firms also recently weighed in on TIGO. Scotiabank raised their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Morgan Stanley began coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target for the company. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.65.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $28.49 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The business has a 50-day moving average of $28.21 and a 200-day moving average of $26.94. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 30.31 and a beta of 1.23. Millicom International Cellular has a fifty-two week low of $19.50 and a fifty-two week high of $31.63.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently modified their holdings of the stock. Brandes Investment Partners LP grew its stake in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after buying an additional 68,061 shares during the last quarter. Southeastern Asset Management Inc. TN acquired a new position in shares of Millicom International Cellular in the fourth quarter valued at approximately $60,306,000. LB Partners LLC lifted its holdings in Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after purchasing an additional 7,000 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth approximately $6,165,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after purchasing an additional 51,620 shares during the period.

About Millicom International Cellular

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.