Millicom International Cellular (NASDAQ:TIGO) Given New $24.00 Price Target at HSBC

Millicom International Cellular (NASDAQ:TIGO) had its target price boosted by investment analysts at HSBC from $22.50 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. HSBC’s target price would indicate a potential upside of 19.52% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Scotiabank raised their target price on shares of Millicom International Cellular from $18.00 to $26.10 and gave the company a “sector outperform” rating in a report on Wednesday, February 28th. Morgan Stanley upgraded shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. upgraded Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 28th. Finally, New Street Research raised Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and an average price target of $24.70.

Millicom International Cellular Trading Down 2.1 %

NASDAQ TIGO opened at $20.08 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $17.22. Millicom International Cellular has a one year low of $14.46 and a one year high of $20.81.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, February 27th. The technology company reported ($0.36) earnings per share for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%. The company had revenue of $1.48 billion for the quarter.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new stake in shares of Millicom International Cellular in the 4th quarter valued at about $283,000. Greytown Advisors Inc. boosted its holdings in shares of Millicom International Cellular by 91.6% in the fourth quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock valued at $827,000 after acquiring an additional 21,965 shares during the period. Morningstar Investment Services LLC grew its position in shares of Millicom International Cellular by 105.6% during the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after acquiring an additional 126,679 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Millicom International Cellular by 7.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 102,280 shares of the technology company’s stock valued at $1,841,000 after acquiring an additional 7,443 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,303 shares during the last quarter.

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.