Millicom International Cellular (NASDAQ:TIGO) Hits New 12-Month High Following Analyst Upgrade

Posted by Francis Steltz on May 29th, 2026

Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report) reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from $51.20 to $52.40. Scotiabank currently has a sector underperform rating on the stock. Millicom International Cellular traded as high as $87.05 and last traded at $83.01, with a volume of 2185942 shares traded. The stock had previously closed at $85.84.

A number of other research firms have also recently commented on TIGO. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, March 6th. Finally, Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and an average target price of $77.28.

Check Out Our Latest Stock Report on TIGO

Institutional Trading of Millicom International Cellular

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after buying an additional 314 shares during the period. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Millicom International Cellular in the fourth quarter worth about $26,000. Blue Trust Inc. grew its holdings in Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Millicom International Cellular during the 4th quarter valued at about $29,000.

Millicom International Cellular Stock Performance

The firm’s fifty day moving average price is $80.56 and its 200 day moving average price is $66.69. The firm has a market cap of $14.17 billion, a P/E ratio of 11.39 and a beta of 0.93. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Sell-side analysts expect that Millicom International Cellular SA will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. Millicom International Cellular’s payout ratio is currently 40.76%.

About Millicom International Cellular

(Get Free Report)

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.