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Investing.com - BTIG initiated coverage on Kyivstar Group (NASDAQ:KYIV) with a Buy rating and a $17.00 price target on Friday, representing a potential 28% upside from the current price of $13.25. The stock has already demonstrated strong momentum, with a 32% gain year-to-date.
The research firm cited the Ukrainian telecom company’s market-leading mobile business, which it describes as delivering resilient, high-margin earnings alongside a strong balance sheet, making the current valuation attractive compared to industry peers. With a market capitalization of $401.57 million and a PEG ratio of 0.25, InvestingPro analysis suggests the stock may be undervalued relative to its growth potential.
BTIG highlighted significant upside potential from Kyivstar’s digital transformation strategy, specifically noting rapid growth in its Uklon ride-hailing and delivery service, Helsi healthtech platform, and fintech partnerships with Starlink and Mastercard.
The firm acknowledged that Kyivstar faces geopolitical headwinds as the only U.S.-listed Ukrainian company but emphasized the company’s robust fundamentals and material excess cash flow earmarked for reinvestment.
Kyivstar’s rapidly expanding digital ecosystem positions the company for potential re-rating and long-term outperformance, according to BTIG’s analysis.
In other recent news, Kyivstar Group has been the subject of multiple analyst assessments following its debut on the Nasdaq. Cantor Fitzgerald initiated coverage with an Overweight rating and set a price target of $17.00. Northland also began coverage, assigning an Outperform rating and the same price target. Meanwhile, Rothschild Redburn gave Kyivstar a Buy rating, with a slightly lower price target of $15.30. In addition to these analyst ratings, Kyivstar has entered into a partnership with Mastercard to enhance Ukraine’s financial infrastructure. This one-year collaboration aims to promote cashless payments and broaden access to financial services across the nation. The partnership is part of a broader initiative to develop technological solutions to strengthen the country’s financial systems. These developments highlight Kyivstar’s strategic moves in both financial and telecommunications sectors.
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