Millicom International Cellular (LON:MICC) Given New GBX 1,350 Price Target at Berenberg Bank

Millicom International Cellular (LON:MICC) had its price target increased by research analysts at Berenberg Bank from GBX 1,250 to GBX 1,350 in a report issued on Monday, Digital Look reports. The firm presently has a “hold” rating on the stock. Berenberg Bank‘s target price would indicate a potential downside of 10.06% from the stock’s current price.

Millicom International Cellular Price Performance

Shares of LON MICC opened at GBX 1,501 on Monday. The stock’s fifty day moving average price is GBX 1,414.37 and its two-hundred day moving average price is GBX 1,279.63. Millicom International Cellular has a one year low of GBX 955.64 and a one year high of GBX 1,515.50. The firm has a market cap of £9.06 billion and a price-to-earnings ratio of 50.77.

Millicom International Cellular SA, commonly known by its Tigo brand in many markets, is a telecommunications and media company headquartered in Luxembourg. The company focuses on providing connectivity and digital services to consumers and businesses in emerging markets, with an emphasis on mobile communications, fixed broadband and cable television.

Millicom’s principal commercial offerings include mobile voice and data services, fixed broadband (including DSL and increasingly fiber-based access where available), pay-TV and bundled consumer packages.