Millicom U.S. shares initiated with Equal Weight at Morgan Stanley

Morgan Stanley analyst Cesar Medina initiated coverage of Millicom’s (TIGO) U.S. shares with an Equal Weight rating and $32 price target Despite a 40% rally last year, Millicom’s valuation remains low, a common feature among Latin American telecoms, the analyst tells investors in a research note. The firm thinks successful consolidation in Colombia would benefit Millicom.