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VimpelCom Ltd (ADR) (NYSE:VIP)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a report issued on Thursday, American Banking & Market News reports. They currently have a $9.00 price objective on the stock, down from their previous price objective of $10.20. Morgan Stanley’s price objective would suggest a potential upside of 15.24% from the stock’s previous close.

The analysts wrote, “Recovery in Russia [is] unlikely before 2015. We estimate VIP lost another 40bps revenue market share in 1Q14 after a 350bps loss over the past 4 years. While we highlight management delivery on network roll-out and distribution improvement, this has not yet translated into top line improvement. “Our conclusion is that i) VIP could be losing high-end subscribers due to network perception – it lost 3.1m subscribers over the past 2 quarters and ARPU declined 3.4% YoY in 1Q14; and ii) the move of customers into bundles may not be proceeding as smoothly as planned – VIP faced a similar issue in the Ukraine.”

Shares of VimpelCom Ltd (NYSE:VIP) opened at 7.81 on Thursday. VimpelCom Ltd has a one year low of $7.61 and a one year high of $14.74. The stock has a 50-day moving average of $8.49 and a 200-day moving average of $10.67. The company’s market cap is $13.668 billion.

VimpelCom Ltd (ADR) (NYSE:VIP) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $1.35. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.71 billion. On average, analysts predict that VimpelCom Ltd will post $0.83 earnings per share for the current fiscal year.

A number of other firms have also recently commented on VIP. Analysts at JPMorgan Chase & Co. downgraded shares of VimpelCom Ltd (ADR) from a “neutral” rating to an “underweight” rating in a research note on Wednesday. Separately, analysts at Zacks upgraded shares of VimpelCom Ltd (ADR) from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $8.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $10.23.

VimpelCom Ltd. (NYSE:VIP) is a holding company.

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