Millicom International Cellular (NASDAQ:TIGO) Given New $100.00 Price Target at JPMorgan Chase & Co.

Millicom International Cellular (NASDAQ:TIGO) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $86.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.55% from the company’s previous close.

TIGO has been the topic of several other research reports. Scotiabank increased their price objective on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a research note on Monday, March 30th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Friday, March 6th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average target price of $73.04.

Millicom International Cellular Stock Up 0.3%

Shares of NASDAQ:TIGO opened at $80.94 on Wednesday. Millicom International Cellular has a 52-week low of $35.49 and a 52-week high of $85.26. The stock has a market cap of $13.68 billion, a P/E ratio of 11.00 and a beta of 0.93. The business’s 50 day moving average is $78.76 and its 200 day moving average is $64.82. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts predict that Millicom International Cellular will post 3.76 EPS for the current year.

Hedge Funds Weigh In On Millicom International Cellular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Millicom International Cellular by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after acquiring an additional 139 shares during the last quarter. EWA LLC raised its stake in Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after acquiring an additional 169 shares during the last quarter. Altshuler Shaham Ltd raised its stake in Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after acquiring an additional 170 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Millicom International Cellular by 2.3% during the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock valued at $635,000 after buying an additional 254 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the last quarter.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.