Scotiabank Trims Millicom International Cellular (NASDAQ:TIGO) Target Price to $26.30

Millicom International Cellular (NASDAQ:TIGOGet Rating) had its price target trimmed by Scotiabank from $36.10 to $26.30 in a research note issued to investors on Thursday morning, The Fly reports.

Separately, JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a neutral rating to an overweight rating in a research report on Thursday, March 31st.

Shares of Millicom International Cellular stock opened at $17.02 on Thursday. The firm has a fifty day moving average of $24.13 and a two-hundred day moving average of $26.90. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 2.98 and a beta of 0.83. Millicom International Cellular has a 52 week low of $16.64 and a 52 week high of $46.18. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.52 and a current ratio of 0.54.

A number of hedge funds and other institutional investors have recently made changes to their positions in TIGO. FMR LLC acquired a new position in Millicom International Cellular in the 1st quarter worth $1,495,000. Morgan Stanley boosted its stake in Millicom International Cellular by 2,757.4% in the 2nd quarter. Morgan Stanley now owns 70,321 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 67,860 shares during the period. Bank of America Corp DE boosted its stake in shares of Millicom International Cellular by 56.4% during the 2nd quarter. Bank of America Corp DE now owns 4,977 shares of the technology company’s stock worth $197,000 after buying an additional 1,794 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Millicom International Cellular by 763,900.0% during the 2nd quarter. Wells Fargo & Company MN now owns 7,640 shares of the technology company’s stock worth $302,000 after buying an additional 7,639 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $1,033,000. 10.83% of the stock is owned by hedge funds and other institutional investors.

About Millicom International Cellular (Get Rating)

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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