Berenberg Bank Has Lowered Expectations for Millicom International Cellular (LON:MICC) Stock Price

Millicom International Cellular (LON:MICC) had its price target dropped by Berenberg Bank from GBX 1,280 to GBX 1,250 in a report issued on Tuesday, Digital Look reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s target price suggests a potential downside of 8.86% from the company’s current price.

Millicom International Cellular Trading Up 2.0%

LON:MICC opened at GBX 1,371.50 on Tuesday. Millicom International Cellular has a 12-month low of GBX 955.64 and a 12-month high of GBX 1,515. The firm has a market cap of £8.28 billion and a PE ratio of 46.39. The stock has a fifty day moving average price of GBX 1,414.34 and a 200 day moving average price of GBX 1,287.44.

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.