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Deutsche Bank Reiterates Hold Rating, $11.10 PT on VimpelCom

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In a report published Friday, Deutsche Bank reiterated its Hold rating and $11.10 price target on VimpelCom (NYSE: VIP).

Deutsche Bank noted, “We note that VimpelCom's dividend policy is to pay at least USD0.80/share of dividends per annum and it aims to pay dividends twice a year. Therefore, in a positive scenario, we could see VimpelCom to announce an interim 2012 dividend. Furthermore, if there are no new issues, with disclosure of final 2012 results, there could be a decision on final 2012 dividend. Thus, in a case of positive developments, the company could distribute, on our estimate, USD1.15 over the next three quarters or so, which implies a. yield of about 10.75%, which we believe is fairly attractive relative to many peers. However, longer term, we would not preclude further clashes between shareholders on strategic issues.”

VimpelCom closed on Wednesday at $10.69.

Latest Ratings for VIP

Feb 2015JP MorganMaintainsUnderweight
Jan 2015Deutsche BankDowngradesBuyHold
Nov 2014Morgan StanleyMaintainsEqual-weight

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Posted-In: Deutsche BankAnalyst Color Reiteration Analyst Ratings


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