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December 3, 2007 |
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MILLICOM INT'L: Morgan Joseph Maintains Buy Rating on Shares Morgan Joseph analysts have kept their "buy" rating on Millicom International Cellular's shares, Newratings.com reports. According to Newratings.com, the target price for Millicom International's shares is set at US$130. The analysts said in a research note that Millicom International is participating in an auction for two mobile telephony licenses in Panama. Newratings.com relates that the analysts were positive of Millicom International's chances of winning one of the two licenses. Morgan Joseph told Newratings.com that Millicom International would move to a per-second billing system in Colombia, after a potential lowering of fees by the regulators next year. Millicom International doesn't expect the fighting in Chad and DRC to affect its network build outs negatively. The earnings per share estimates for fiscal year 2007 and fiscal year 2008 were increased to US$6.64 from US$6.61 and US$5.74 from US$5.38, respectively, Newratings.com states. Headquartered in Bertrange, Luxembourg, and controlled by Sweden's AB Kinnevik, Millicom International Cellular S.A. -- http://www.millicom.com/ -- is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of around 391 million people. The Central America Cluster comprises Millicom's operations in El Salvador, Guatemala and Honduras. The population under license in Central America at December 2005 is 26.4 million. The South America Cluster comprises Millicom's operations in Bolivia and Paraguay. The population under license in South America at December 2005 is 15.2 million. * * * As reported in the Troubled Company Reporter-Latin America Nov. 16, 2007, Moody's Investors Service has upgraded ratings of Millicom International Cellular S.A. The corporate family rating was upgraded to Ba2 from Ba3 and the rating on the existing senior notes was upgraded to B1 from B2. Moody's said the outlook on the ratings is stable. |
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