TIGO Shares Soar 0.25% to 2021 Highs on Strong Cash Flow

Millicom International Cellular SA (TIGO) shares rose to their highest level since November 2021 today, with an intraday gain of 0.25%.

Millicom has demonstrated robust financial performance and strategic growth in recent times. The company achieved a record equity free cash flow of $728 million for the full year 2024, excluding tower sales, which underscores its strong financial health and efficient cash management. This performance is particularly notable given the challenging market conditions, including currency fluctuations and competitive pressures. Millicom's ability to navigate these challenges effectively highlights the company's resilience and strategic acumen.

In the fourth quarter of 2024, Millicom's earnings call further emphasized its strong cash flow and strategic growth initiatives. The company's focus on maintaining robust financial performance amidst market challenges has been a key driver of investor confidence. This positive outlook was reinforced by HSBC Global Research, which upgraded Millicom's rating from "hold" to "strong-buy" in January 2025. This upgrade reflects increased investor confidence and a favorable outlook from analysts, further bolstering Millicom's position in the market.