Millicom (Buy, TP: SEK660.00) - Transformation not priced in
We believe Millicom’s ongoing transformation into a more stable cash-generating company with increased subscription-based revenues is not priced into the shares, and we reiterate our BUY and SEK660 target price. The Q2 results are due at 22:00 CET on 18 July.
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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