VEON (NASDAQ:VEON) Upgraded to “Buy” by Goldman Sachs Group
VEON (NASDAQ:VEON) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $4.00 price target on the Wireless communications provider’s stock, up from their previous price target of $3.40. Goldman Sachs Group’s price target would indicate a potential upside of 26.18% from the company’s previous close.
VEON has been the topic of several other reports. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Bank of America reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of The Medicines in a research note on Tuesday. UBS Group lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating and increased their target price for the stock from $22.00 to $25.00 in a research note on Monday, June 17th. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, July 5th. Finally, BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. VEON currently has a consensus rating of “Buy” and an average price target of $3.19.
Shares of VEON opened at $3.17 on Thursday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of -13.78 and a beta of 1.81. VEON has a 1-year low of $2.07 and a 1-year high of $3.28. The firm’s fifty day moving average is $2.61.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Segantii Capital Management Ltd acquired a new position in shares of VEON during the 1st quarter worth about $10,450,000. Hsbc Holdings PLC raised its position in shares of VEON by 15.1% during the 4th quarter. Hsbc Holdings PLC now owns 1,481,318 shares of the Wireless communications provider’s stock worth $3,466,000 after purchasing an additional 194,554 shares during the last quarter. Marshall Wace North America L.P. raised its position in shares of VEON by 2,866.4% during the 1st quarter. Marshall Wace North America L.P. now owns 1,042,217 shares of the Wireless communications provider’s stock worth $2,178,000 after purchasing an additional 1,007,083 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of VEON during the 4th quarter worth about $47,000. Finally, Geode Capital Management LLC raised its position in shares of VEON by 70.1% during the 4th quarter. Geode Capital Management LLC now owns 1,762,145 shares of the Wireless communications provider’s stock worth $4,123,000 after purchasing an additional 726,359 shares during the last quarter. Hedge funds and other institutional investors own 16.22% of the company’s stock.
VEON Company Profile
VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.
Featured Story: What is intrinsic value?
Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.