Zacks: Brokerages Set $83.00 Price Target for Millicom International Cellular SA (NASDAQ:TIGO)
Shares of Millicom International Cellular SA (NASDAQ:TIGO) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus price objective of $83.00 for the company, according to Zacks. Zacks has also assigned Millicom International Cellular an industry rank of 209 out of 256 based on the ratings given to its competitors.
A number of research analysts have commented on TIGO shares. Zacks Investment Research cut shares of Millicom International Cellular from a “hold” rating to a “sell” rating in a research report on Saturday, August 17th. Barclays raised shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research report on Friday, April 26th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Resources Investment Advisors LLC. purchased a new stake in Millicom International Cellular during the second quarter worth about $28,000. Gabelli Funds LLC increased its stake in Millicom International Cellular by 0.9% during the second quarter. Gabelli Funds LLC now owns 104,791 shares of the company’s stock worth $5,837,000 after purchasing an additional 900 shares during the period. Wells Fargo & Company MN increased its stake in Millicom International Cellular by 195.5% during the second quarter. Wells Fargo & Company MN now owns 3,425 shares of the company’s stock worth $191,000 after purchasing an additional 2,266 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Millicom International Cellular by 20.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 20,195 shares of the company’s stock worth $1,125,000 after purchasing an additional 3,407 shares during the period. Finally, Patriot Investment Management Inc. purchased a new stake in Millicom International Cellular during the first quarter worth about $295,000. 6.59% of the stock is currently owned by institutional investors.
About Millicom International Cellular
Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.
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