Millicom International Cellular (NASDAQ:TIGO) Given New $24.00 Price Target at HSBC

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) had its target price lifted by investment analysts at HSBC from $22.50 to $24.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. HSBC's price target points to a potential upside of 16.96% from the stock's previous close.

TIGO has been the subject of several other research reports. JPMorgan Chase & Co. upgraded Millicom International Cellular from a "neutral" rating to an "overweight" rating in a research report on Thursday, March 28th. Morgan Stanley raised shares of Millicom International Cellular from an "equal weight" rating to an "overweight" rating in a research note on Friday, January 5th. New Street Research raised shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $24.00 in a research note on Thursday, February 29th. Finally, Scotiabank boosted their price objective on shares of Millicom International Cellular from $18.00 to $26.10 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.70.

Millicom International Cellular Trading Up 0.6 %

TIGO traded up $0.13 on Thursday, hitting $20.52. The company had a trading volume of 64,250 shares, compared to its average volume of 83,012. The company has a market cap of $2.09 billion, a PE ratio of -43.66 and a beta of 1.15. Millicom International Cellular has a 12-month low of $14.46 and a 12-month high of $20.81. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.88. The business's fifty day simple moving average is $18.10 and its 200 day simple moving average is $17.20.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.36) EPS for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%. The company had revenue of $1.48 billion during the quarter.

Hedge Funds Weigh In On Millicom International Cellular

A number of large investors have recently made changes to their positions in TIGO. Brandes Investment Partners LP increased its position in shares of Millicom International Cellular by 28.7% during the third quarter. Brandes Investment Partners LP now owns 4,394,992 shares of the technology company's stock worth $67,903,000 after purchasing an additional 981,159 shares in the last quarter. LB Partners LLC acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at $9,000,000. Millennium Management LLC increased its position in shares of Millicom International Cellular by 559.6% in the 2nd quarter. Millennium Management LLC now owns 393,912 shares of the technology company's stock valued at $5,661,000 after acquiring an additional 334,189 shares during the period. Morningstar Investment Services LLC increased its position in shares of Millicom International Cellular by 105.6% in the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company's stock valued at $4,474,000 after acquiring an additional 126,679 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Millicom International Cellular by 43.7% in the 2nd quarter. Renaissance Technologies LLC now owns 415,297 shares of the technology company's stock valued at $5,953,000 after acquiring an additional 126,350 shares during the period.

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.