Morgan Stanley upgraded Millicom to Overweight from Equal Weight with a price target of SEK 240, up from SEK 185. The company’s efficiency measures, early signs of stabilizing competition in Guatemala and moderating spending support an upward trend in operating cash flow that can help deleveraging, the analyst tells investors in a research note. The firm says the stock is one of the cheapest telecoms within its coverage.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TIGO:
- Millicom (Tigo) share repurchase activity
- Millicom (Tigo) raises target and launches share repurchase program
- Tim SA downgraded to Sector Perform from Outperform at Scotiabank
- Megacable downgraded to Underperform from Sector Perform at Scotiabank
- Millicom price target raised to SEK 195 from SEK 170 at Barclays
