Kyivstar initiated with an Overweight at Barclays

Barclays initiated coverage of Kyivstar (KYIV) with an Overweight rating and $12.50 price target The company is well positioned for earnings growth “despite a challenging backdrop,” the analyst tells investors in a research note. The firm says Kyivstar “resilient” margins, pricing power and cash generation provide downside protection for the shares. While there are no signs the Ukraine conflict will end imminently, the shares have “material upside should that occur,” adds Barclays.