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UPDATE: Deutsche Bank Upgrades VimpelCom

Related VIP
Benzinga's Top Upgrades, Downgrades For March 10, 2017
Earnings Scheduled For February 27, 2017

Deutsche Bank upgraded VimpelCom (NASDAQ: VIP) to Buy and established a target price of $10.

Deutsche Bank analyst Igor Semenov says, "We cut our estimates for VIP again after weak results and lower guidance. We expect revenue dynamics to remain negative for the rest of the year. However, VIP recently completed the refinancing of its Italian unit and agreed on a sale of a majority stake in its Algerian operation, both of which should be positive for earnings via reduced interest costs."

Semenov continued to say, "We also reduce our WACC for Wind owing to lower interest rates. As a result, we raise our target price to USD10. Given the upside, we raise our rating to Buy, although near-term performance could still be volatile until revenue trends in major operating units start to stabilize."

VimpelCom shares responded to the upgrade and traded up 2.53 percent to close at $8.11 on Friday.

Latest Ratings for VIP

Mar 2017INGInitiates Coverage OnBuy
Feb 2017Goldman SachsReinstatesBuy
Nov 2016CitigroupUpgradesNeutralBuy

View More Analyst Ratings for VIP
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Igor SemenovAnalyst Color Upgrades Analyst Ratings


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