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In a remarkable display of market resilience, VEON Ltd (AS:VON). shares have surged to a 52-week high, reaching a price level of $48.49. According to InvestingPro data, the company maintains an impressive "GREAT" financial health score and boasts an industry-leading gross profit margin of 87%. This peak represents a significant milestone for the telecommunications service provider, reflecting a robust period of trading that has caught the attention of investors. Over the past year, VEON (NASDAQ:VEON) has witnessed an impressive turnaround, with the stock delivering an 82% return. Trading at an attractive P/E ratio of 8.2 and currently showing signs of being slightly undervalued based on InvestingPro’s Fair Value model, the company has caught analysts’ attention, with a strong buy consensus. This surge in stock value underscores the company’s potential for growth and the positive sentiment surrounding its operational performance and strategic initiatives. Investors continue to monitor VEON’s progress closely as it navigates the dynamic telecommunications landscape. Discover 8 additional exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, VEON Ltd. reported a robust financial performance for the fourth quarter of 2024, achieving total revenue of $4 billion, an 8.3% increase from the previous year. Digital revenue was a standout, growing by 63% to $460 million, which significantly contributed to the overall revenue growth. Following these strong earnings, Benchmark analysts raised the price target for VEON shares from $56 to $60, maintaining a Buy rating, citing the company’s strategic initiatives and digital revenue growth as key factors. Additionally, VEON has announced a partnership with Airspan Networks to enhance Ukraine’s telecommunications infrastructure, part of a $1 billion investment plan to rebuild the country’s digital framework by 2027.
Furthermore, VEON has appointed Anand Ramachandran as its new Corporate Development Officer, effective May 1, 2025, to oversee the company’s Mergers & Acquisitions and Investor Relations teams. This appointment is part of VEON’s ongoing efforts to strengthen its leadership during a period of growth and innovation. The company has also made strategic moves, such as the sale of its subsidiary Deodar’s tower assets for $563 million, aligning with its transition to an asset-light model. These developments reflect VEON’s focus on expanding its digital services and strategic market initiatives, positioning the company for continued growth in the digital and mobile sectors.
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