Millicom International Cellular (LON:MICC) Given New GBX 1,280 Price Target at Berenberg Bank

Millicom International Cellular (LON:MICC) had its price objective boosted by analysts at Berenberg Bank from GBX 1,217 to GBX 1,280 in a report released on Tuesday,London Stock Exchange reports. The brokerage presently has a “hold” rating on the stock. Berenberg Bank’s price objective would indicate a potential downside of 6.16% from the stock’s previous close.

Millicom International Cellular Trading Down 0.8%

LON MICC opened at GBX 1,364 on Tuesday. The business has a 50-day moving average of GBX 1,322.11. The company has a market capitalization of £8.35 billion and a PE ratio of 28.42. Millicom International Cellular has a 12 month low of GBX 955.64 and a 12 month high of GBX 1,440.

Insider Buying and Selling

In related news, insider Peter ter Kulve bought 23,150 shares of the company’s stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of GBX 1,374 per share, for a total transaction of £318,081. 0.06% of the stock is owned by corporate insiders.

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.