Kyivstar initiated with an Outperform at Northland

Northland analyst Tim Savageaux initiated coverage of Kyivstar (KYIV) with an Outperform rating and $17 price target The company is positioned as the leading mobile operator in Ukraine with 22M subscribers, growing fiber broadband and digital services revenue, double-digit local currency revenue growth, a strong balance sheet and a strong execution track record, the analyst tells investors. The stock trades at a deep discount to both established and emerging market peers, despite “group high” EBITDA margins, the analyst added.