VEON (VEON) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of VEON (NASDAQ:VEON) from a hold rating to a buy rating in a research note released on Monday.

Several other analysts have also weighed in on the company. HSBC upgraded VEON from a hold rating to a buy rating in a report on Monday, August 20th. Goldman Sachs Group lowered VEON from a buy rating to a neutral rating in a report on Friday, October 12th. Zacks Investment Research upgraded VEON from a sell rating to a buy rating and set a $3.00 price target on the stock in a report on Wednesday, August 22nd. Finally, BidaskClub upgraded VEON from a strong sell rating to a sell rating in a report on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $3.50.

NASDAQ:VEON traded up $0.05 during midday trading on Monday, hitting $2.84. 20,540 shares of the company traded hands, compared to its average volume of 4,245,697. VEON has a 12-month low of $2.20 and a 12-month high of $4.14. The firm has a market capitalization of $4.83 billion, a PE ratio of 47.33 and a beta of 2.08. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.95 and a current ratio of 0.98.

Institutional investors have recently made changes to their positions in the company. Exor Investments UK LLP increased its stake in shares of VEON by 3.8% during the third quarter. Exor Investments UK LLP now owns 37,657,792 shares of the Wireless communications provider’s stock valued at $109,208,000 after buying an additional 1,390,000 shares during the period. BlackRock Inc. increased its stake in shares of VEON by 42.3% during the first quarter. BlackRock Inc. now owns 123,320 shares of the Wireless communications provider’s stock valued at $326,000 after buying an additional 36,651 shares during the period. Morgan Stanley increased its stake in shares of VEON by 9.2% during the second quarter. Morgan Stanley now owns 19,187,951 shares of the Wireless communications provider’s stock valued at $45,667,000 after buying an additional 1,608,650 shares during the period. Commonwealth Bank of Australia increased its stake in shares of VEON by 92.2% during the second quarter. Commonwealth Bank of Australia now owns 2,347,491 shares of the Wireless communications provider’s stock valued at $5,583,000 after buying an additional 1,126,100 shares during the period. Finally, Exane Derivatives increased its stake in shares of VEON by 933.9% during the second quarter. Exane Derivatives now owns 110,708 shares of the Wireless communications provider’s stock valued at $265,000 after buying an additional 100,000 shares during the period. Hedge funds and other institutional investors own 15.26% of the company’s stock.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for VEON (NASDAQ:VEON)

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