VimpelCom Ltd. (VEON) Stock Rating Upgraded by Zacks Investment Research
VimpelCom Ltd. (NASDAQ:VEON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $4.75 price target on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 19.95% from the company’s previous close.
According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “
Several other research analysts also recently issued reports on the company. Royal Bank Of Canada set a $7.00 price objective on VimpelCom and gave the company a “buy” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co raised VimpelCom from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $4.00 to $4.50 in a research note on Wednesday, July 26th. ValuEngine downgraded VimpelCom from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, BidaskClub raised VimpelCom from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.35.
VimpelCom (NASDAQ:VEON) opened at 3.96 on Thursday. The stock has a 50 day moving average of $4.15 and a 200 day moving average of $4.02. The company’s market cap is $6.96 billion. VimpelCom has a 52 week low of $3.12 and a 52 week high of $4.50.
VimpelCom (NASDAQ:VEON) last issued its earnings results on Thursday, August 3rd. The Wireless communications provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). The business had revenue of $2.42 billion for the quarter. VimpelCom had a negative return on equity of 8.29% and a net margin of 18.26%. Equities research analysts predict that VimpelCom will post $0.31 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in VEON. Goldman Sachs Group Inc. bought a new stake in VimpelCom in the first quarter valued at approximately $4,867,000. Macquarie Group Ltd. bought a new stake in VimpelCom in the first quarter valued at approximately $32,486,000. Credit Suisse AG bought a new stake in VimpelCom in the first quarter valued at approximately $421,000. Marathon Asset Management LP bought a new stake in VimpelCom in the first quarter valued at approximately $408,000. Finally, BlueCrest Capital Management Ltd bought a new stake in VimpelCom in the first quarter valued at approximately $1,201,000. 12.12% of the stock is owned by institutional investors.
VimpelCom Company Profile
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