Barclays Issues Pessimistic Forecast for Millicom International Cellular (NASDAQ:TIGO) Stock Price

Millicom International Cellular (NASDAQ:TIGO) had its target price lowered by investment analysts at Barclays from $310.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 20.83% from the stock’s current price.

TIGO has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Scotiabank upped their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday, February 28th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, January 22nd. Finally, Morgan Stanley began coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Millicom International Cellular Price Performance

NASDAQ:TIGO traded up $0.27 during midday trading on Thursday, hitting $29.80. 233,265 shares of the stock were exchanged, compared to its average volume of 260,411. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 31.71 and a beta of 1.23. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a one year low of $19.50 and a one year high of $31.63. The business has a 50-day moving average price of $28.13 and a two-hundred day moving average price of $26.91.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State of Wyoming bought a new position in shares of Millicom International Cellular in the 4th quarter worth $49,000. National Bank of Canada FI bought a new position in Millicom International Cellular during the third quarter worth about $76,000. Point72 Asset Management L.P. acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $87,000. Blue Trust Inc. raised its position in shares of Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after acquiring an additional 1,544 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,055 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.