Veon initiated with a Buy at Rothschild & Co Redburn

Rothschild & Co Redburn analyst Max Findlay initiated coverage of Veon (VEON) with a Buy rating and $74 price target The company owns telecom and “fast-growing” digital assets that are valued at a “steep” sum-of-the-parts discount, the analyst tells investors in a research note. The firm says Veon’s current share price comprises its 84% stake in Kyivstar, which contributes $32 per share, with the remaining business valued at $21 per share, below its respective $41.5 and $32.5 valuations.