Millicom International Cellular (NASDAQ:TIGO) Given New $37.90 Price Target at Scotiabank

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

Other equities analysts have also issued reports about the stock. 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 research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered 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 research report on Thursday, January 16th. Morgan Stanley began coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Millicom International Cellular has an average rating of “Buy” and a consensus price target of $32.32.

Millicom International Cellular Price Performance

TIGO traded down $0.87 on Friday, reaching $26.28. 1,258,323 shares of the company’s stock were exchanged, compared to its average volume of 387,347. The stock has a market cap of $4.52 billion, a PE ratio of 27.96 and a beta of 1.18. Millicom International Cellular has a twelve month low of $17.62 and a twelve month high of $28.98. The stock’s fifty day moving average price is $26.19 and its 200-day moving average price is $26.38. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in Millicom International Cellular by 6.4% in the 4th 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 last quarter. MML Investors Services LLC lifted its holdings in shares of Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after acquiring an additional 750 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Millicom International Cellular by 22.2% in the 4th quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after acquiring an additional 1,277 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 159.7% in 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 last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 1,500 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.