Scotiabank Increases Millicom International Cellular (NASDAQ:TIGO) Price Target to $30.00

Millicom International Cellular (NASDAQ:TIGO) had its price objective boosted by research analysts at Scotiabank from $26.80 to $30.00 in a report released on Friday, Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target suggests a potential upside of 31.35% from the stock’s previous close.

A number of other research analysts also recently commented on TIGO. HSBC lifted their price objective on shares of Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $24.00 in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research note on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $27.00.

Millicom International Cellular Stock Performance

Millicom International Cellular stock opened at $22.84 on Friday. Millicom International Cellular has a 1-year low of $14.46 and a 1-year high of $25.60. The company has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $19.64. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share for the quarter. The business had revenue of $1.49 billion during the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. Sell-side analysts expect that Millicom International Cellular will post 2.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in TIGO. Greytown Advisors Inc. grew its holdings in Millicom International Cellular by 91.6% during the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock worth $827,000 after acquiring an additional 21,965 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Millicom International Cellular in the 4th quarter worth approximately $87,000. LWM Advisory Services LLC lifted its position in shares of Millicom International Cellular by 152.7% in the 4th quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after purchasing an additional 17,779 shares during the period. LB Partners LLC acquired a new position in shares of Millicom International Cellular in the 4th quarter worth approximately $9,000,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $627,000.

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.