VEON Ltd (VEON) PT Raised to $60 at Benchmark

Benchmark analyst Matt Harrigan raised the price target on VEON Ltd (NASDAQ: VEON) to $60.00 (from $56.00) while maintaining a Buy rating.

The analyst commented, “We are increasing our price target on BUY-rated VEON to $60 from $56 following last Thursday's 4Q24 earnings release and a Friday morning CC with senior management. VEON is a premier frontier markets mobile play complemented by breakout digital revenue growth for fintech, health, and entertainment apps. This is as VEON implements an asset light model exemplified by its new strategic alliance with Engro in Pakistan off the $563M EV (high single digit estimated EBITDA multiple) sale of VEON subsidiary Deodar’s tower assets. Any new model revisions (beyond our latest iteration) for final 2024 financials should be minimal.”

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