UPDATE: Bank of America Raises PT on VimpelCom on Q4 Results

In a report published Wednesday, Bank of America reiterated its Neutral rating on VimpelCom

, and slightly raised its price target from $12.00 to $12.50. Bank of America noted, “Q4 results highlighted again that the company is focused on the bottom line in Russia rather than on chasing the marginal client. However, the other three pillars of VimpelCom's investment case still look shaky. We believe the stock has what it takes to perform as long as Russia's recovery is accompanied by (1) a resolution of the Algerian situation, (2) a turnaround at Wind in Italy which will take some time and (3) transparency on the shareholder structure and conversion of the preferred shares.” VimpelCom closed on Tuesday at $12.12.