VEON (NASDAQ:VEON) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of VEON (NASDAQ:VEON) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has $3.17 price target on the Wireless communications provider’s stock.

Several other analysts have also issued reports on VEON. BidaskClub lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Friday, July 5th. ValuEngine lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, May 28th. Finally, UBS Group lowered JinkoSolar from a buy rating to a neutral rating and raised their price objective for the company from $22.00 to $25.00 in a research note on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $3.19.

VEON opened at $3.17 on Tuesday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -13.78 and a beta of 1.81. VEON has a 52-week low of $2.07 and a 52-week high of $3.28. The stock’s fifty day moving average is $2.61.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $2.12 billion for the quarter. VEON had a negative return on equity of 17.37% and a net margin of 10.00%. On average, sell-side analysts forecast that VEON will post 0.39 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Paloma Partners Management Co bought a new position in VEON in the fourth quarter valued at about $30,000. Squarepoint Ops LLC bought a new position in shares of VEON during the fourth quarter worth about $42,000. Arete Wealth Advisors LLC bought a new stake in VEON in the fourth quarter worth approximately $47,000. Evergreen Capital Management LLC bought a new stake in VEON in the first quarter worth approximately $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in VEON in the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 16.22% of the company’s stock.

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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