Kyivstar Group: Buy Rating on Strong Core Telecom Execution and Underappreciated Digital Growth Upside

Analyst Jesse Sobelson, CFA of BTIG maintained a Buy rating on Kyivstar Group, retaining the price target of $17.00.

Jesse Sobelson, CFA has given his Buy rating due to a combination of factors, including Kyivstar Group’s solid execution in its core mobile business and better‑than‑expected cash generation. The company delivered fourth‑quarter revenue at the upper end of guidance, driven by double‑digit growth in mobile services and rising ARPU, while maintaining its leading subscriber position in Ukraine’s telecom market.

At the same time, Kyivstar’s fast‑growing digital segment, led by Uklon and supported by recent acquisitions such as Tabletki, is increasing its share of total revenue and supporting long‑term growth despite regulatory headwinds like RLAH. Management’s FY26 outlook calls for healthy top‑line and EBITDA expansion with moderating CapEx, and Sobelson’s $17 price target, based on a blended EV/EBITDA and DCF valuation, reflects his view that the market underestimates Kyivstar’s combined telecom and digital potential relative to peers, even accounting for regional risk.

According to TipRanks, Sobelson, CFA is a 4-star analyst with an average return of 35.0% and a 32.00% success rate.

In another report released on February 25, Northland Securities also maintained a Buy rating on the stock with a $19.00 price target.