VimpelCom Ltd. (VEON) Upgraded by Zacks Investment Research to “Buy”
VimpelCom Ltd. (NASDAQ:VEON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $4.75 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 19.05% from the stock’s current price.
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. “
A number of other equities analysts also recently issued reports on the stock. ValuEngine upgraded shares of VimpelCom from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. BidaskClub upgraded shares of VimpelCom from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. J P Morgan Chase & Co upgraded shares of VimpelCom from an “underweight” rating to a “neutral” rating and raised their target price for the company from $4.00 to $4.50 in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $7.00 target price on shares of VimpelCom and gave the company a “buy” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.35.
Shares of VimpelCom (NASDAQ:VEON) traded down 0.50% during mid-day trading on Thursday, hitting $3.99. 6,546,634 shares of the stock traded hands. The firm’s market cap is $7.01 billion. VimpelCom has a 12-month low of $3.12 and a 12-month high of $4.50. The firm’s 50 day moving average price is $4.15 and its 200 day moving average price is $4.02.
VimpelCom (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $2.42 billion during the quarter. VimpelCom had a net margin of 18.26% and a negative return on equity of 8.29%. On average, equities research analysts predict that VimpelCom will post $0.31 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2017/10/05/vimpelcom-ltd-veon-upgraded-by-zacks-investment-research-to-buy.html.
Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in shares of VimpelCom during the 1st quarter worth about $5,050,000. Morgan Stanley acquired a new stake in shares of VimpelCom during the 1st quarter worth about $25,455,000. Goldman Sachs Group Inc. acquired a new stake in shares of VimpelCom during the 1st quarter worth about $4,867,000. Russell Investments Group Ltd. acquired a new stake in shares of VimpelCom during the 1st quarter worth about $1,862,000. Finally, Bank of America Corp DE acquired a new stake in shares of VimpelCom during the 1st quarter worth about $25,470,000. 12.12% of the stock is currently owned by institutional investors.
VimpelCom Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for VimpelCom Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VimpelCom Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.