Millicom International Cellular (NASDAQ:TIGO) Raised to Strong-Buy at Zacks Research

Millicom International Cellular (NASDAQ:TIGO) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

A number of other equities research analysts have also recently weighed in on TIGO. Weiss Ratings cut Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a research note on Tuesday, August 18th. UBS Group raised their target price on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Royal Bank Of Canada set a $105.00 target price on Millicom International Cellular in a research report on Tuesday, August 18th. Finally, Scotiabank lifted their target price on Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.68.

Millicom International Cellular Stock Up 0.3%

Millicom International Cellular stock opened at $90.77 on Tuesday. The company has a market capitalization of $15.34 billion, a PE ratio of 22.92 and a beta of 0.93. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. Millicom International Cellular has a fifty-two week low of $44.88 and a fifty-two week high of $107.13. The firm has a 50 day moving average price of $93.57 and a 200 day moving average price of $88.61.

Institutional Trading of Millicom International Cellular

Hedge funds have recently modified their holdings of the stock. Amundi lifted its stake in Millicom International Cellular by 120.8% in the first quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after acquiring an additional 289,913 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Millicom International Cellular in the 1st quarter valued at $18,210,000. Bank of America Corp DE raised its holdings in shares of Millicom International Cellular by 22.0% in the 1st quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock valued at $18,269,000 after purchasing an additional 43,947 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Millicom International Cellular during the 4th quarter worth $871,000. Finally, Saudi Central Bank acquired a new position in shares of Millicom International Cellular during the second quarter worth $7,014,000.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.