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Fly News Breaks for July 9, 2019
VEON
Jul 9, 2019 | 07:53 EDT
As previously reported, BofA Merrill Lynch analyst Cesar Tiron upgraded Veon to Buy from Neutral, citing four primary reasons. He see signs of operational stabilization in Russia; he believes the company can maintain its current dividend levels, which implies a 10% yield; Telenor, which has committed to sell its entire stake, has only an 8.9% holding left; and his increased price target of $3.80, up from $2.70, implies 22% upside.
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