Millicom International Cellular (NASDAQ:TIGO) Price Target Lowered to $36.00 at Barclays

Millicom International Cellular (NASDAQ:TIGO) had its price target reduced by equities researchers at Barclays from $310.00 to $36.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 20.83% from the stock’s previous close.

Several other equities research analysts have also issued reports on TIGO. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target on the stock. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank boosted their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. Finally, Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.65.

Millicom International Cellular Stock Up 0.9 %

Shares of NASDAQ:TIGO traded up $0.27 during midday trading on Thursday, reaching $29.80. 233,265 shares of the company were exchanged, compared to its average volume of 260,411. The firm has a market cap of $5.13 billion, a PE ratio of 31.71 and a beta of 1.23. Millicom International Cellular has a fifty-two week low of $19.50 and a fifty-two week high of $31.63. The stock has a fifty day simple moving average of $28.13 and a two-hundred day simple moving average of $26.91. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently modified their holdings of TIGO. State of Wyoming acquired a new position in shares of Millicom International Cellular during the 4th quarter worth $49,000. National Bank of Canada FI bought a new position in Millicom International Cellular in the third quarter valued at about $76,000. Point72 Asset Management L.P. bought a new position in shares of Millicom International Cellular in the third quarter worth about $87,000. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 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.