JPMorgan Chase & Co. Increases Millicom International Cellular (NASDAQ:TIGO) Price Target to $63.00

Millicom International Cellular (NASDAQ:TIGO) had its price target increased by analysts at JPMorgan Chase & Co. from $55.00 to $63.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 12.30% from the stock’s previous close.

TIGO has been the subject of a number of other research reports. Zacks Research downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Scotiabank raised their target price on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their price target for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $56.10 on Monday. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 9.89 and a beta of 1.11. Millicom International Cellular has a fifty-two week low of $23.61 and a fifty-two week high of $56.27. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a fifty day moving average price of $48.19 and a 200-day moving average price of $42.73.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Millicom International Cellular in the third quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in Millicom International Cellular in the 3rd quarter valued at approximately $28,000. USA Financial Formulas bought a new position in Millicom International Cellular in the 2nd quarter valued at approximately $30,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Millicom International Cellular during the 3rd quarter worth approximately $32,000.

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.