New Street Research - VEON Ltd. Sponsored ADR (VEON) VEON (Buy, TP: $40, +57%) – Q1 24 Quick Take: On course for guided rapid growth in revenue

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New Street Research

Chris Hoare

EUR 9599.00 For Business Accounts Only

VEON (Buy, TP: $40, +57%) – Q1 24 Quick Take: On course for guided rapid growth in revenue

Excluding customer retention costs in Ukraine post December’s cyber-attack, VEON posted revenue which was in-line with its full year guide while underlying EBITDA was slightly slower due to Bangladesh and Ukraine.

16/05/2024 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
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Pan European Telecom Services and Cable

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Analysts

Chris Hoare

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VEON (Buy, TP: $40, +57%) – Q1 24 Quick Take: On course for guided rapid growth in revenue

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

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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