Barclays Maintains an 'Underweight' on VimpelCom (VIP); Lowers PT & Estimates
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Price: $1.83 -1.61%
Rating Summary:
6 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
6 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Barclays maintains an 'Underweight' on VimpelCom (NYSE: VIP) price target lowered from $11.00 -to $10.50.
Analyst, JP Davids, said, "Our cautious stance on VimpelCom is predicated on governance and earnings risks. In late April, governance was again in focus as Russian courts attempted to block Telenor's bid for increased control. Tomorrow the company reports 1Q12 earnings, where we expect EBITDA growth to trail the top line."
Davids sees earnings pressure building throughout the year, namely in Italy, where regulation and austerity have extended pressures. FY12 EPS estimate cut from $1.13 to $0.98 and FY13 from $1.22 to $1.16.
For an analyst ratings summary and ratings history on VimpelCom click here. For more ratings news on VimpelCom click here.
Shares of VimpelCom closed at $9.47 yesterday.
Analyst, JP Davids, said, "Our cautious stance on VimpelCom is predicated on governance and earnings risks. In late April, governance was again in focus as Russian courts attempted to block Telenor's bid for increased control. Tomorrow the company reports 1Q12 earnings, where we expect EBITDA growth to trail the top line."
Davids sees earnings pressure building throughout the year, namely in Italy, where regulation and austerity have extended pressures. FY12 EPS estimate cut from $1.13 to $0.98 and FY13 from $1.22 to $1.16.
For an analyst ratings summary and ratings history on VimpelCom click here. For more ratings news on VimpelCom click here.
Shares of VimpelCom closed at $9.47 yesterday.
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