The Panic-Proof Portfolio (Stockchase Research) Veon Ltd VEON-Q TOP PICK Sep 17, 2024

This Amsterdam based provider of digital services has over 150 mobile subscribers operating in six countries -- including keeping Ukraine connected despite cyberattacks. It repaid in full its revolving credit facility, while still growing cash reserves.  It trades at 6x earnings, under 2x book and supports a 40% ROE.  We recommend setting a stop-loss at $20, looking to achieve $38 -- upside potential over 45%.  Yield 0%  

We reiterate VEON, the largest foreign investor in the Ukraine in 2023, as a TOP PICK.  The company has committed $1 billion to rebuild the countries digital infrastructure over the next five years.  It trades at 6x earnings and under 2x book value.  Cash reserves are growing, while debt is retired.  We recommend trailing up the stop (from $20) to $22, looking to achieve $38 -- upside potential of 45%.  Yield 0%

Our PAST TOP PICK with VEON is progressing well.  To remain disciplined, we recommend trailing up the stop (from $22) to $25 at this time.

We again reiterate VEON, the digital provider for over 160 million European customers in six countries, including key infrastructure in Ukraine.   Cash reserves continue to grow, while the shares trade at 7x earnings 2.5x book and support a ROE of 36%.  We recommend trailing up the stop (from $25.00) to $27.50, looking to achieve $38.00 - upside potential of 20%.  Yield 0% 

Our PAST TOP PICK with VEON has achieved its objective at $38.  To remain disciplined, we recommend covering half the position at this time and trailing up the stock from $27.50 to $33.00.  

We again reiterate VEON as a TOP PICK.  We like that the European cell and data service provider is aggressively retiring debt.  It trades at 2.7x book and supports a 37% ROE.  We recommend trailing up the stop (from $33) to $40, looking to achieve $56 -- upside potential of 21%.  Yield 0%  

We again reiterate VEON as a TOP PICK.  We like the global diversification coming from this provider of telecommunications in Europe.  Cash reserves are being prudently used to aggressively retire debt.  It trades at 2.6x book and supports a robust 36% ROE.  We continue to recommend a fairly tight stop at $40, looking to achieve $57 — upside potential of 29%.  Yield 0%

Our PAST TOP PICK with VEON has triggered its stop at $40.  To remain disciplined, we recommend covering the position at this time.  When combined with our previous guidance, this will result in a net investment gain of 16%.