VEON (VEON) Reiterated at Buy by Benchmark on Potential for Rerating

Benchmark analyst Matt Harrigan reiterated a Buy rating and $80.00 price target on VEON Ltd (NASDAQ: VEON).

The analyst commented, "The prospective Iran peace deal, or at least 60-day negotiation pause, could induce a gradual capital markets rerating of Pakistan with concomitant growth and more favorable valuation parameters benefits for VEON’s Jazz Pakistani business. The reality for Emerging Markets, especially frontier markets, is that country attractiveness assessments and portfolio weightings generally take precedence over individual company operating performance. Any increased global market interest in Pakistan would almost certainly increase investor interest in a likely IPO for Jazz including its especially preeminent fintech business. Pakistan is VEON’s largest market and represents ~33% of 2026E pre-overhead EBITDA. Benchmark’s $80 price target for VEON reflects a discounted FCF valuation for Pakistan using a cost of equity off an assumed 7.5x P/E for that market, among the highest frontier market P/E’s given historical political risk. An aspirational analysis assuming Pakistan gradually migrates toward an assumed 12.5x MSCI frontier market normal P/E would increase VEON’s fair stock price value to $100+ with possible further benefit from lower Pakistani interest rates. VEON could appear even more attractive on a sum-of-the-parts analysis for digital apps and traditional mobile."

For an analyst ratings summary and ratings history on VEON Ltd click here. For more ratings news on VEON Ltd click here.

Shares of VEON Ltd closed at $52.42 yesterday.

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