Millicom International Cellular SA (NASDAQ:TIGO) Receives $53.00 Average Target Price from Analysts

Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $53.00.

TIGO has been the topic of several analyst reports. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the company from $46.80 to $43.00 in a research note on Wednesday, February 11th.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $66.08 on Friday. The stock has a market cap of $11.37 billion, a PE ratio of 10.12 and a beta of 0.93. The stock has a 50-day moving average of $58.64 and a 200-day moving average of $52.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. Millicom International Cellular has a one year low of $25.50 and a one year high of $68.93.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently modified their holdings of TIGO. JPMorgan Chase & Co. raised its holdings in Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after buying an additional 5,020,602 shares during the period. Perpetual Ltd boosted its holdings in shares of Millicom International Cellular by 5,283.2% in the third quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock valued at $132,610,000 after buying an additional 2,681,221 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the first quarter worth $50,664,000. Northwestern Mutual Wealth Management Co. lifted its position in Millicom International Cellular by 46,519.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock valued at $70,042,000 after acquiring an additional 1,260,666 shares in the last quarter. Finally, Tredje AP fonden acquired a new position in Millicom International Cellular in the 4th quarter worth $60,459,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.