Millicom International Cellular (NASDAQ:TIGO) Cut to “Sector Underperform” at Scotiabank

Scotiabank lowered shares of Millicom International Cellular (NASDAQ:TIGO) from a sector perform rating to a sector underperform rating in a report published on Wednesday, MarketBeat.com reports. Scotiabank currently has $43.00 price target on the technology company’s stock, down from their prior price target of $46.80.

A number of other research firms have also recently weighed in on TIGO. Zacks Research cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Finally, UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.00.

Millicom International Cellular Stock Down 0.0%

Shares of TIGO stock opened at $65.71 on Wednesday. The stock has a market cap of $11.31 billion, a P/E ratio of 10.06 and a beta of 0.93. Millicom International Cellular has a twelve month low of $25.50 and a twelve month high of $68.93. The stock has a 50 day moving average of $57.21 and a 200 day moving average of $51.01. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Millicom International Cellular by 155.4% in the third 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. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at about $29,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Millicom International Cellular in the third quarter worth about $26,000.

Millicom International Cellular Company Profile

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.