RBC Capital Remains a Buy on VEON Ltd

By Austin Angelo

In a report released yesterday, Irina Idrissova from RBC Capital reiterated a Buy rating on VEON Ltd (NASDAQ: VEON), with a price target of $6.50. The company’s shares closed yesterday at $3.91.

VEON Ltd has an analyst consensus of Hold.

Based on VEON Ltd’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.47 billion and GAAP net loss of $5.4 million. In comparison, last year the company earned revenue of $1.75 billion and had a net profit of $165 million.

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VEON Ltd. engages in the provision of telecommunications service and operation. It offers voice and data services through traditional and broadband mobile and fixed technologies. The company also provides services under the following brands: Beeline, Kyivstar, djuice, Wind, Infostrada, Mobilink, Leo, banglalink, Telecel, and Djezzy. VEON was founded by Dmitri B. Zimin and Augie K. Fabela II in 1992 and is headquartered in Amsterdam, the Netherlands.