VimpelCom Ltd. (NASDAQ:VEON) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of VimpelCom Ltd. (NASDAQ:VEON) from a buy rating to a hold rating in a research report released on Tuesday, October 24th.

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. “

Other research analysts have also issued research reports about the company. BidaskClub lowered VimpelCom from a hold rating to a sell rating in a research report on Friday, October 6th. ValuEngine raised VimpelCom from a sell rating to a hold rating in a research report on Monday, September 11th. Royal Bank Of Canada set a $7.00 target price on VimpelCom and gave the stock a buy rating in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co raised VimpelCom from an underweight rating to a neutral rating and increased their target price for the stock from $4.00 to $4.50 in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $5.35.

Shares of VimpelCom (VEON) opened at $3.72 on Tuesday. VimpelCom has a fifty-two week low of $3.21 and a fifty-two week high of $4.50. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 1.89.

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Institutional investors have recently bought and sold shares of the business. Invictus RG bought a new stake in shares of VimpelCom in the 1st quarter worth $131,000. KCG Holdings Inc. bought a new stake in shares of VimpelCom in the 1st quarter worth $248,000. UBS Group AG purchased a new position in shares of VimpelCom in the 1st quarter worth $263,000. SG Americas Securities LLC purchased a new position in shares of VimpelCom in the 1st quarter worth $410,000. Finally, Credit Suisse AG purchased a new position in shares of VimpelCom in the 1st quarter worth $421,000. 12.02% of the stock is owned by institutional investors and hedge funds.

VimpelCom Company Profile

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Analyst Recommendations for VimpelCom (NASDAQ:VEON)

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