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

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) had its price objective lowered by investment analysts at Barclays from $310.00 to $36.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Barclays's target price would indicate a potential upside of 34.26% from the company's previous close.

Several other equities analysts have also issued reports on TIGO. Morgan Stanley started coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target on the stock. HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 target price for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Scotiabank increased 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 research note on Friday, February 28th. Finally, Hsbc Global Res upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. 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 stock. According to data from MarketBeat, Millicom International Cellular presently has an average rating of "Moderate Buy" and an average price target of $35.65.

Millicom International Cellular Stock Performance

NASDAQ TIGO traded down $0.37 during trading on Thursday, hitting $26.81. The company's stock had a trading volume of 713,813 shares, compared to its average volume of 274,081. Millicom International Cellular has a 52 week low of $19.50 and a 52 week high of $31.63. The firm has a 50 day moving average price of $28.22 and a 200 day moving average price of $26.95. The firm has a market cap of $4.61 billion, a P/E ratio of 28.66 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TIGO. State of Wyoming acquired a new stake in Millicom International Cellular during the 4th quarter valued at $49,000. National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular in the third quarter valued at $76,000. Point72 Asset Management L.P. acquired a new stake in shares of Millicom International Cellular in the third quarter valued at $87,000. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after buying an additional 1,544 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after buying an additional 2,055 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.