VEON (NASDAQ:VEON) Rating Increased to Buy at UBS Group

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UBS Group upgraded shares of VEON (NASDAQ:VEON) from a neutral rating to a buy rating in a research note published on Monday, Benzinga reports. UBS Group currently has $3.00 price target on the Wireless communications provider’s stock.

A number of other equities research analysts also recently issued reports on VEON. Zacks Investment Research downgraded VEON from a buy rating to a hold rating in a research report on Thursday, May 30th. ValuEngine raised VEON from a hold rating to a buy rating in a research note on Tuesday, May 28th. Finally, BidaskClub raised VEON from a hold rating to a buy rating in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $3.20.

Shares of VEON stock opened at $2.71 on Monday. VEON has a 52-week low of $2.07 and a 52-week high of $3.14. The firm has a market capitalization of $4.51 billion, a P/E ratio of -11.78 and a beta of 1.70.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. VEON had a negative return on equity of 17.37% and a net margin of 10.00%. The company had revenue of $2.12 billion for the quarter. As a group, analysts expect that VEON will post 0.49 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEON. Prosperity Capital Management Ltd bought a new position in VEON in the first quarter valued at $93,487,000. Exor Investments UK LLP increased its stake in VEON by 14.3% in the first quarter. Exor Investments UK LLP now owns 43,054,134 shares of the Wireless communications provider’s stock valued at $89,983,000 after acquiring an additional 5,396,342 shares during the last quarter. Segantii Capital Management Ltd bought a new position in VEON in the first quarter valued at $10,450,000. Acadian Asset Management LLC bought a new position in VEON in the fourth quarter valued at $8,223,000. Finally, Laurion Capital Management LP bought a new position in VEON in the first quarter valued at $5,225,000. 16.22% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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Analyst Recommendations for VEON (NASDAQ:VEON)

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