Berenberg Bank Reiterates “Hold” Rating for Millicom International Cellular (LON:MICC)

Millicom International Cellular (LON:MICC)‘s stock had its “hold” rating restated by equities researchers at Berenberg Bank in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a GBX 1,217 price objective on the stock. Berenberg Bank’s price target suggests a potential downside of 9.52% from the company’s previous close.

Millicom International Cellular Stock Performance

Millicom International Cellular stock opened at GBX 1,345 on Friday. The company has a 50-day simple moving average of GBX 1,299.43. Millicom International Cellular has a 12-month low of GBX 955.64 and a 12-month high of GBX 1,433.50. The company has a market capitalization of £8.23 billion and a PE ratio of 28.02.

Insiders Place Their Bets

In related news, insider Peter ter Kulve bought 6,825 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of GBX 15 per share, for a total transaction of £1,023.75. 0.06% of the stock is owned by corporate insiders.

Millicom International Cellular SA, commonly known by its Tigo brand in many markets, is a telecommunications and media company headquartered in Luxembourg. The company focuses on providing connectivity and digital services to consumers and businesses in emerging markets, with an emphasis on mobile communications, fixed broadband and cable television.

Millicom’s principal commercial offerings include mobile voice and data services, fixed broadband (including DSL and increasingly fiber-based access where available), pay-TV and bundled consumer packages.