Millicom International Cellular (NASDAQ:TIGO) Given New $37.90 Price Target at Scotiabank

Millicom International Cellular (NASDAQ:TIGO) had its price objective raised by equities researchers at Scotiabank from $37.30 to $37.90 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price indicates a potential upside of 44.22% from the stock’s current price.

TIGO has been the topic of several other reports. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, January 22nd. Finally, Morgan Stanley started coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Buy” and an average target price of $32.32.

Millicom International Cellular Trading Down 3.2 %

Shares of NASDAQ:TIGO traded down $0.87 during trading on Friday, reaching $26.28. The company’s stock had a trading volume of 1,258,323 shares, compared to its average volume of 387,347. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 12 month low of $17.62 and a 12 month high of $28.98. The stock has a market capitalization of $4.52 billion, a PE ratio of 27.96 and a beta of 1.18. The firm’s 50 day simple moving average is $26.19 and its two-hundred day simple moving average is $26.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC increased its holdings in Millicom International Cellular by 24.7% in the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock valued at $261,000 after buying an additional 2,071 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth about $1,319,000. Two Sigma Advisers LP purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth about $988,000. Two Sigma Investments LP increased its stake in shares of Millicom International Cellular by 229.3% during the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock worth $1,428,000 after purchasing an additional 39,771 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth about $49,000.

Millicom International Cellular Company Profile

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.