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

VEON (NASDAQ:VEON) was upgraded by research analysts at Rothschild & Co Redburn to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $74.00 target price on the Wireless communications provider’s stock. Rothschild & Co Redburn’s target price suggests a potential upside of 35.95% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of VEON in a research note on Friday, March 13th. Zacks Research raised VEON from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Wall Street Zen upgraded VEON from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, VEON currently has an average rating of “Buy” and an average price target of $67.00.

VEON Trading Up 3.5%

Shares of VEON stock opened at $54.43 on Thursday. The stock has a 50-day simple moving average of $51.60 and a 200 day simple moving average of $51.57. VEON has a fifty-two week low of $34.55 and a fifty-two week high of $64.00. The stock has a market capitalization of $4.03 billion, a P/E ratio of 7.33 and a beta of 1.67. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

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

Institutional Trading of VEON

Several large investors have recently added to or reduced their stakes in VEON. Osaic Holdings Inc. raised its stake in VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after purchasing an additional 388 shares during the period. Royal Bank of Canada raised its stake in VEON by 184.3% during the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,576 shares during the period. Personal CFO Solutions LLC acquired a new stake in VEON during the 3rd quarter valued at $208,000. Truist Financial Corp acquired a new stake in VEON during the 3rd quarter valued at $208,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in VEON during the 3rd quarter valued at $211,000. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

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.