VEON

VEON · NASDAQ

$83.01+$3.74 (+4.72%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $79.27

VEON analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 9 analysts

Average $90.36 (+8.9% upside)

Low: $74.26
Now: $83.01
High: $117.60

Upgrades and downgrades

The latest rating actions, newest first

VEON analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 2, 2026	Initiates	Overweight	$112.00	100%
Northland Capital Markets	Sep 29, 2026	Maintains	Outperform	$70.00 → $85.00	70%
Northland Capital Markets	Jun 9, 2026	Initiates	Outperform	$70.00	70%
Rothschild & Co	Apr 16, 2026	Initiates	Buy	$74.00	100%

The case for and against

Updated Dec 7, 2025

Bull case

VEON Ltd has demonstrated significant growth potential, evidenced by an increase in smartphone penetration from 24% in 2020 to over 70%, which supports the company's rational approach to network cost management. The company reported exemplary earnings in the first quarter of 2025, with expectations of 12%-14% local currency revenue growth and 13%-15% local currency EBITDA growth for the fiscal year 2025. Additionally, VEON is strategically positioned to capitalize on increased demand for in-house digital applications across various sectors, including financial services, healthcare, education, and entertainment.

Bear case

VEON Ltd experienced a significant 18% decline in its stock value, primarily driven by market sentiment and risk aversion toward frontier markets, particularly in light of the ongoing conflicts in Ukraine. The sell-off was exacerbated by limited liquidity and was influenced by broader geopolitical factors, including budgetary and foreign policy unpredictability from the United States. Furthermore, the absence of any specific news or operational developments related to VEON suggests a lack of fundamental support for the stock amidst increasing wariness of market participants regarding frontier market assets.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.