Kyivstar (KYIV) stock soared on Friday alongside reports that Russia and Ukraine are close to reaching a peace deal. This matters to Kyivstar as it is the largest wireless network operator in Ukraine. The company’s operations are largely focused in Ukraine and the United Arab Emirates.
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According to the latest reports, Kyrylo Budanov, the former head of Ukraine’s military intelligence and a top aide to President Volodymyr Zelenskiy, said that Ukraine and Russia have made progress toward a potential peace deal. However, he didn’t know how the deal would split territory between the two countries, which appears to be a sticking point in the war.
Progress toward peace talks between Ukraine and Russia follows a brief ceasefire. Both countries agreed to suspend military operations against the other over the Easter holiday weekend. This suspension lasted for roughly 36 hours. Additionally, there are hopes for more peace talks following the ceasefire agreement that was reached between the U.S. and Iran earlier this week.
Kyivstar Stock Movement Today
Kyivstar stock was up 8.35% in pre-market trading on Friday, following a 3.22% rally yesterday. Even so, the shares were down 16.02% year-to-date and 1.8% over the past 12 months.
KYIV stock trading activity this morning saw some 353,000 shares change hands, which is roughly half of the company’s three-month average daily trading volume.
Today’s activity suggests that any further updates on the war between Ukraine and Russia could affect KYIV stock. This could cause volatility, depending on the news.
Is Kyivstar Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Kyivstar is Strong Buy, based on four Buy ratings over the past three months. With that comes an average KYIV stock price target of $17.13, representing a potential 57.16% upside for the shares.
