Millicom International Cellular (LON:MICC) Stock Gets Price Target Boost from Berenberg Bank

Millicom International Cellular (LON:MICC) had its price objective lifted by investment analysts at Berenberg Bank from GBX 1,250 to GBX 1,350 in a research report issued to clients and investors on Monday, Digital Look reports. The firm currently has a “hold” rating on the stock. Berenberg Bank‘s target price would indicate a potential downside of 10.06% from the company’s current price.

Millicom International Cellular Stock Performance

LON MICC opened at GBX 1,501 on Monday. The stock has a market cap of £9.06 billion and a PE ratio of 50.77. The firm has a 50-day moving average of GBX 1,414.37 and a 200-day moving average of GBX 1,279.63. Millicom International Cellular has a 52-week low of GBX 955.64 and a 52-week high of GBX 1,515.50.

Millicom International Cellular SA, commonly known by its Tigo brand in many markets, is a telecommunications and media company headquartered in Luxembourg. The company focuses on providing connectivity and digital services to consumers and businesses in emerging markets, with an emphasis on mobile communications, fixed broadband and cable television.

Millicom’s principal commercial offerings include mobile voice and data services, fixed broadband (including DSL and increasingly fiber-based access where available), pay-TV and bundled consumer packages.