Millicom price target raised to $51.20 from $43 at Scotiabank

Scotiabank analyst Andres Coello raised the firm’s price target on Millicom (TIGO) to $51.20 from $43 and keeps an Underperform rating on the shares. The firm is updating its price targets for LatAm Telecom stocks under its coverage, the analyst tells investors. The firm continues to focus on equity free cash flow generation as the main valuation metric across services given limited growth potential and saturation.