Millicom International Cellular S.A. (NASDAQ:TIGO) is one of the best mid-cap value stocks to buy right now. On August 19, Scotia Bank reiterated a ‘Sector Perform’ rating on the stock and increased the price target to $46.10 from $37.
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The price target hike comes as the research firm remains confident about the long-term impact of the acquisitions that the company has carried out. Millicom International Cellular has acquired UNE-EPM, Coltel, TEF Ecuador, and TEF Uruguay, which it expects to contribute $100 million in equity-free cash flow.
Scotiabank expects Millicom International Cellular to achieve $854 million in equity-free cash flow in 2026, representing an 11.4% yield. Additionally, Millicom International delivered solid Q2 2025 results, characterized by earnings per share of $4.03, which exceeded consensus estimates of $3.49.
Millicom International Cellular S.A. is a digital telecommunications and media company with a focus on Latin America and Africa. It offers a range of fixed-line and mobile services, including voice and data, as well as cable TV, broadband, and business-to-business solutions. It also offers mobile financial services and local content, such as entertainment and sports, through its various TIGO brands.
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This article is originally published at Insider Monkey.
