Millicom (Buy, TP: SEK655.00) - Mobile set to be back to growth
In Q3 2017 Millicom was back to growth in the LatAm division. For Q4 (reporting 6 February at 22:00 CET) we expect mobile service revenue to turn positive too, leading to a further acceleration of growth for the group and a good momentum into 2018. We reiterate BUY and have raised our target price to SEK655 (SEK620).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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