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

Millicom International Cellular (NASDAQ:TIGOFree Report) had its target price increased by Scotiabank from $26.80 to $30.00 in a report issued on Friday, Benzinga reports. The firm currently has a sector outperform rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on TIGO. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research report on Tuesday, May 28th. They set an overweight rating and a $30.00 price target on the stock. HSBC lifted their price target 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. Finally, New Street Research raised shares of Millicom International Cellular from a neutral rating to a buy rating and lifted their price target for the company from $20.00 to $24.00 in a research report on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $27.00.

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Millicom International Cellular Trading Down 0.6 %

TIGO stock opened at $22.84 on Friday. Millicom International Cellular has a one year low of $14.46 and a one year high of $25.60. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.84 and a current ratio of 0.86. The company has a fifty day moving average of $22.73 and a 200-day moving average of $19.66.

Millicom International Cellular (NASDAQ:TIGOGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.54 EPS for the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. The business had revenue of $1.49 billion during the quarter. Research analysts forecast that Millicom International Cellular will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Millicom International Cellular by 1,431.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after buying an additional 1,303 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at about $29,000. Principal Securities Inc. bought a new position in shares of Millicom International Cellular during the 4th quarter valued at about $87,000. SG Americas Securities LLC boosted its position in shares of Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after purchasing an additional 920 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of Millicom International Cellular in the third quarter worth about $277,000.

About Millicom International Cellular

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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.

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