Why These 15 Communication Services Stocks Are up the Most So Far in 2025

12. Millicom International Cellular SA (NASDAQ:TIGO)

Number of Hedge Fund Holders In Q4 2024: 17

Millicom International Cellular SA (NASDAQ:TIGO) is a telecommunications provider offering cable, mobile, broadband, and digital financial services primarily in Latin America under the Tigo brand.

The most significant driver for Millicom’s stock surge in 2025 was the completion of its delisting from Nasdaq Stockholm, which consolidated all trading of its shares on the U.S. Nasdaq. This move simplified the company’s capital structure and led SEB, the custodian bank, to initiate the sale of approximately 5.1 million unconverted Swedish Depositary Receipts, which the market viewed positively.

The stock’s momentum was further fueled by the announcement of an interim dividend of $0.75 per share, payable in April 2025, and by JPMorgan raising its price target from $33 to $41, citing Millicom’s strategic reduction in capital expenditures and improved financial metrics. The company’s robust free cash flow yield, strong EBITDA of $2.4 billion, and a healthy gross profit margin of 75.5% also contributed to investor confidence.

The consensus price target of $35.65 implies 7.64% upside.

TIGO stock is up 41.72% year-to-date.