VimpelCom Ltd (VIP) Rating Increased to Buy at Renaissance Capital
Renaissance Capital upgraded shares of VimpelCom Ltd (NASDAQ:VIP) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $4.30 price target on the stock, down from their previous price target of $5.10.
A number of other equities research analysts have also weighed in on the stock. Bank of America Corp. set a $5.60 target price on shares of VimpelCom and gave the company a buy rating in a research note on Monday, September 12th. Morgan Stanley began coverage on VimpelCom in a research note on Thursday, September 8th. They issued an overweight rating and a $5.70 price objective for the company. Finally, Zacks Investment Research upgraded VimpelCom from a sell rating to a hold rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $5.54.
VimpelCom (NASDAQ:VIP) opened at 3.40 on Wednesday. VimpelCom has a one year low of $2.71 and a one year high of $4.94. The stock’s 50 day moving average is $4.14 and its 200 day moving average is $3.92. The firm’s market cap is $5.95 billion.
Hedge funds have recently bought and sold shares of the company. Societe Generale purchased a new stake in VimpelCom during the second quarter worth $283,000. World Asset Management Inc raised its stake in VimpelCom by 8.1% in the second quarter. World Asset Management Inc now owns 108,733 shares of the company’s stock worth $422,000 after buying an additional 8,192 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in VimpelCom by 22.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 208,670 shares of the company’s stock worth $810,000 after buying an additional 37,664 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in VimpelCom during the second quarter worth $2,577,000. Finally, Shah Capital Management raised its stake in VimpelCom by 16.2% in the second quarter. Shah Capital Management now owns 1,030,510 shares of the company’s stock worth $3,998,000 after buying an additional 143,515 shares during the period.
VimpelCom Company Profile
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.
Receive News & Ratings for VimpelCom Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VimpelCom Ltd and related companies with MarketBeat.com's FREE daily email newsletter.