New Street Research - VEON Ltd. Sponsored ADR (VEON) VEON (Buy, TP: $65, +93%) Q3 24 Quick Take: Revenue in-line but EBITDA softer; Guidance cut

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New Street Research

Chris Hoare

EUR 9484.00 For Business Accounts Only

VEON (Buy, TP: $65, +93%) Q3 24 Quick Take: Revenue in-line but EBITDA softer; Guidance cut

Revenue came in-line with expectations led again by Pakistan and Kazakhstan with Ukraine improving further. However, underlying EBITDA was softer against last quarter.

14/11/2024 1 EN

Underlying

VEON Ltd. Sponsored ADR

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US91822M1062 NASDAQ Stock Market United States

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Chris Hoare

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VEON (Buy, TP: $65, +93%) Q3 24 Quick Take: Revenue in-line but EBITDA softer; Guidance cut

VEON (Buy, TP: $65 from $40, +117%) Focus on Digital, Buy, PT to US$65/ADR

EMEA & African Telcos & Towers - High Yield Review – Initiate Coverage on Axian Telecom and Liquid Intelligent Technologies, plus VEON, IHS Towers & Helios

AMAT 4FQ24: Headwinds into 2025. Maintain cautious view. Neutral, $205.

Liquid Intelligent Technologies (HY, Overweight) Pro forma balance sheet for equity raise suggests the bonds offer good value

Sunrise (Neutral, TP: CHF37, -16%) Sunrise – Initiation, TP: CHF37, -16%, Neutral

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