Kyivstar initiated with an Outperform at Oppenheimer

Oppenheimer analyst Timothy Horan initiated coverage of Kyivstar (KYIV) with an Outperform rating and $20 price target The firm says the company will benefit from the end of Russia-Ukraine war. Even the “worst-case” peace agreement for Ukraine would still be very positive for Kyivstar, the analyst tells investors in a research note. Oppenheimer believes Ukraine’s GDP growth could quadruple post war given the need to spend more than $500B on reconstruction, which provides meaningful upside potential for Kyivstar shares. The company is leveraging existing infrastructure with new applications and customers, the firm adds.