Veon Ltd (VEON-Q)

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 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%

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%