TIGO stock soars to 52-week high, reaching $31.63

In a remarkable display of market confidence, Millicom International Cellular SA (NASDAQ:TIGO) stock, a $5.2 billion telecommunications company, has achieved a 52-week high, with shares trading at an impressive $31.63. According to InvestingPro analysis, the company maintains a "GREAT" financial health score, suggesting strong fundamental performance. This peak reflects a significant surge in value, with the stock delivering an impressive 67.27% return over the past year and 31.15% year-to-date. Investors have shown increased interest in TIGO, rallying behind the telecommunications and media company as it expands its footprint in Latin America and Africa. The 52-week high serves as a testament to the company’s robust performance and the optimistic outlook shared by its stakeholders. InvestingPro analysis suggests the stock is currently undervalued, with 8 additional exclusive ProTips available to subscribers.

In other recent news, Millicom International Cellular SA has seen several notable developments. JPMorgan has raised its price target for Millicom shares from $33.00 to $41.00, maintaining an Overweight rating. This adjustment is due to changes in the company’s capital expenditure projections and a reduced weighted average cost of capital, highlighting Millicom’s strategic investment approach. Additionally, Telefonica (NYSE:TEF) has announced the sale of its Colombian business to Millicom Spain for $400 million, a move that is pending regulatory approval. This acquisition involves 67.5% of Colombia Telecomunicaciones’ share capital and aligns with Telefonica’s strategy to scale back its Latin American operations. Meanwhile, Morgan Stanley (NYSE:MS) has initiated coverage of Millicom with an Equalweight rating and a price target of $32.00. The firm points to potential market consolidation in Colombia and a significant tower transaction as future growth drivers. Millicom’s 2024 revenue in Colombia reached $1.4 billion, with an EBITDA margin of about 40%, outperforming some of its competitors. These developments reflect Millicom’s strategic positioning and potential for growth in the Latin American telecommunications sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.