As previously reported, Scotiabank downgraded Millicom (TIGO) to Sector Perform from Outperform with an unchanged price target of $37. The stock has rallied 47% since September 2024, outperforming peers, the analyst tells investors in a research note. The firm says that regardless of acquisitions in the Latin America telecom market, Millicom’s valuation “looks stretched at these levels.”
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TIGO:
- Millicom downgraded to Sector Perform from Outperform at Scotiabank
- Millicom Expands in South America with Telefónica Ecuador Acquisition
- Millicom Announces Partial Closing of Infrastructure Deal and Special Dividend
- Millicom reports partial closing of infrastructure deal with SBA Communications
- Millicom Expands in South America with Telefónica Uruguay Acquisition