JPMorgan Chase & Co. Increases Millicom International Cellular (NASDAQ:TIGO) Price Target to $41.00

Millicom International Cellular (NASDAQ:TIGO) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $33.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 38.84% from the company’s current price.

TIGO has been the topic of a number of other reports. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Wednesday, January 22nd. Morgan Stanley began coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price for the company. Finally, Scotiabank increased their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $35.58.

Millicom International Cellular Trading Down 1.7 %

Shares of NASDAQ:TIGO opened at $29.53 on Thursday. The company has a 50-day simple moving average of $28.13 and a 200 day simple moving average of $26.91. The company has a market capitalization of $5.08 billion, a P/E ratio of 31.42 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a 52-week low of $19.50 and a 52-week high of $31.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TIGO. Southeastern Asset Management Inc. TN bought a new stake in shares of Millicom International Cellular in the fourth quarter valued at approximately $60,306,000. Park West Asset Management LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at $6,165,000. Brandes Investment Partners LP grew its holdings in shares of Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after purchasing an additional 68,061 shares in the last quarter. Perpetual Ltd bought a new position in shares of Millicom International Cellular in the fourth quarter worth $1,587,000. Finally, Squarepoint Ops LLC bought a new stake in Millicom International Cellular during the fourth quarter worth about $1,319,000.

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.