VEON (NASDAQ:VEON) Upgraded to Strong-Buy at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded VEON to a strong-buy and set a $74 price target, implying roughly a 35.95% upside from the prior close.
• The broader analyst consensus is a Buy with a $67 average target (three Strong Buys, one Buy, one Hold); VEON trades near $54.43, has a $4.03B market cap and a P/E of 7.33, and last reported quarterly EPS of ($0.44) on $1.17B revenue.

VEON (NASDAQ:VEON - Get Free Report) was upgraded by Rothschild & Co Redburn to a "strong-buy" rating in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $74.00 target price on the Wireless communications provider's stock. Rothschild & Co Redburn's price target suggests a potential upside of 35.95% from the company's previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of VEON in a research report on Monday, December 29th. Benchmark reaffirmed a "buy" rating on shares of VEON in a research report on Friday, March 13th. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised VEON from a "hold" rating to a "buy" rating in a research report on Saturday, January 10th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $67.00.

VEON Stock Performance

VEON stock opened at $54.43 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 2.47. The firm has a market cap of $4.03 billion, a P/E ratio of 7.33 and a beta of 1.67. VEON has a 12-month low of $34.55 and a 12-month high of $64.00. The stock's 50 day simple moving average is $51.60 and its 200 day simple moving average is $51.57.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share (EPS) for the quarter. The firm had revenue of $1.17 billion for the quarter. VEON had a net margin of 12.12% and a return on equity of 47.86%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Shah Capital Management increased its holdings in shares of VEON by 1.5% during the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider's stock valued at $257,343,000 after purchasing an additional 70,831 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of VEON during the third quarter valued at $1,078,000. Panview Capital Ltd acquired a new position in shares of VEON during the third quarter valued at $22,481,000. RWC Asset Management LLP acquired a new position in shares of VEON during the third quarter valued at $2,048,000. Finally, Dorsey Wright & Associates acquired a new position in shares of VEON during the third quarter valued at $1,273,000. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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