VimpelCom Ltd. (VIP) Stock Rating Upgraded by Zacks Investment Research
VimpelCom Ltd. (NASDAQ:VIP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “
VIP has been the subject of several other reports. Bank of America Corp. set a $5.60 price objective on VimpelCom and gave the stock a “buy” rating in a research note on Monday, September 12th. Citigroup Inc. upgraded VimpelCom from a “neutral” rating to a “buy” rating in a research note on Thursday, November 3rd. Morgan Stanley assumed coverage on VimpelCom in a report on Thursday, September 8th. They set an “overweight” rating and a $5.70 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $8.00 target price on shares of VimpelCom in a report on Monday. Finally, Renaissance Capital upgraded VimpelCom from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.10 to $4.30 in a report on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $5.42.
Shares of VimpelCom (NASDAQ:VIP) opened at 3.41 on Wednesday. The firm’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00. VimpelCom has a 12-month low of $2.71 and a 12-month high of $4.51.
The business also recently announced a dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.026 per share. The ex-dividend date of this dividend is Wednesday, November 16th.
A number of institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd boosted its position in shares of VimpelCom by 37.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,385 shares of the company’s stock worth $102,000 after buying an additional 7,136 shares during the period. Allianz Asset Management AG bought a new position in shares of VimpelCom during the second quarter worth about $182,000. BNP Paribas Arbitrage SA boosted its position in shares of VimpelCom by 48.3% in the second quarter. BNP Paribas Arbitrage SA now owns 47,202 shares of the company’s stock worth $183,000 after buying an additional 15,381 shares during the period. Carl Domino Inc boosted its position in shares of VimpelCom by 63.9% in the third quarter. Carl Domino Inc now owns 59,000 shares of the company’s stock worth $206,000 after buying an additional 23,000 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of VimpelCom by 78.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,500 shares of the company’s stock worth $256,000 after buying an additional 32,300 shares during the period. Hedge funds and other institutional investors own 4.54% of the company’s stock.
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.
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