JPMorgan Chase & Co. Increases Millicom International Cellular (NASDAQ:TIGO) Price Target to $50.00

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $41.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 35.57% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. 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 price objective for the company. Barclays decreased their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Scotiabank boosted their price objective 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. Finally, UBS Group lifted their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.23.

Millicom International Cellular Trading Up 1.3%

NASDAQ TIGO traded up $0.46 during trading on Tuesday, reaching $36.88. 672,774 shares of the stock traded hands, compared to its average volume of 388,712. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 39.23 and a beta of 1.03. The stock's 50-day moving average price is $32.36 and its 200 day moving average price is $28.52. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a fifty-two week low of $22.59 and a fifty-two week high of $38.50.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.23. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.45 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. Analysts predict that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

A number of institutional investors have recently made changes to their positions in TIGO. AQR Capital Management LLC raised its position in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after acquiring an additional 453 shares in the last quarter. Cerity Partners LLC raised its position in Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after acquiring an additional 508 shares in the last quarter. Jones Financial Companies Lllp raised its position in Millicom International Cellular by 6.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock worth $227,000 after acquiring an additional 545 shares in the last quarter. Principal Securities Inc. raised its position in Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after acquiring an additional 1,277 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after acquiring an additional 1,500 shares in the last quarter.

About Millicom International Cellular

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.