New Street Research - VEON Ltd. Sponsored ADR (VEON) New Street: VEON (Downgrade to Neutral): Weak Q220 results, and now no dividend support

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New Street Research

Alastair Jones

New Street: VEON (Downgrade to Neutral): Weak Q220 results, and now no dividend support

VEON has reported a weak set of results with mobile service revenue growth and EBITDA growth being hit by 6pp in Q220.

06/08/2020 3 EN

Underlying

VEON Ltd. Sponsored ADR

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US91822M1062 NASDAQ Stock Market United States

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New Street Research

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Analysts

Alastair Jones

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New Street: VEON (Downgrade to Neutral): Weak Q220 results, and now no dividend support

VEON (Buy, TP: $40, +69%) Feedback from small group lunch

VEON (Buy, TP: US$40/ADR, +68%) Q4 23 Quick Take: Good set of results and good FY24 guidance

VEON (Buy, TP: US$40/ADR, +102%) Telenor Pakistan to be sold to Pakistan Telecommunications. Implications for VEON.

Snap Inc. (SNAP, Buy, $17 target) Everything works for the ad business

Alphabet (GOOGL, Buy, $166 target) First Thoughts After the Call

ADYEN (Buy, TP: EUR1,700, +45%) Buying opportunity on the pullback / Q1 model update

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