Benchmark says Veon offers ‘unique opportunity,’ starts with a Buy

As previously reported, Benchmark analyst Matthew Harrigan initiated coverage of Veon (VEON) with a Buy rating and $48 price target Veon offers “a unique opportunity to participate” in mobile connectivity and digital services growth for telecom, entertainment and financial services in five high growth frontier markets – Pakistan, Ukraine, Kazakhstan, Bangladesh and Uzbekistan – where 4G remains “the most appropriate and economically efficient mobile technology for these consumers,” the analyst tells investors. Veon’s 2027 ambitions include delivering 16%-19% top line and 19%-22% EBITDA local currency compound annual growth rates off a 2023 base, the analyst noted.