This Little-Known Stock Is Trading at New 5-Year Highs and Has Huge Potential

• VEON (VEON) is trading at a new 5-year high.
• Shares are up more than 35% over the past 52 weeks and have strong technical momentum.
• The stock also maintains a 100% “Buy” technical opinion from Barchart.
• Analyst sentiment is overwhelmingly positive, with multiple “Strong Buy” ratings and price targets up to $100.

Today’s Featured Stock

Valued at $5.4 billion, VEON (VEON) is a digital operator providing connectivity and digital services principally in Pakistan, Ukraine, Bangladesh, Kazakhstan, and Uzbekistan. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. VEON checks those boxes. The Trend Seeker issued a new “Buy” signal on Aug. 5. The stock has gained 35.21% since that signal.

Barchart’s Technical Indicators for VEON

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

VEON hit a 5-year high of $74.60 on Sept. 25.

• VEON has a Weighted Alpha of 58.58.
• VEON has a 100% “Buy” opinion from Barchart.
• The stock has gained 36.27% over the past 52 weeks.
• VEON has its Trend Seeker “Buy” signal intact.
• The stock recently traded at $74.18 with a 50-day moving average of $60.16.
• VEON had 9 highs and gained 18.25% in the last month.
• 60-month beta of 1.63.
• Relative Strength Index (RSI) is at 80.13.
• There’s a technical support level around $70.67.

Don’t Forget the Fundamentals

• $5.4 billion market capitalization.
• 18.37x trailing price-earnings ratio.
• Revenue is projected to grow by15.42% this year and another 7.70% next year.
• Earnings are estimated to increase by 40.66% this year and an additional 19.34% next year.

Analyst and Investor Sentiment on VEON

• The Wall Street analysts followed by Barchart give the stock 6 “Strong Buy” and 1 “Hold” opinion with price targets from $70 to $100.
• Morningstar thinks the stock is fairly valued.
• CFRA’s MarketScope rates the stock as “Strong Buy.”
• 10,810 investors are following the stock on Seeking Alpha, which rates it a “Buy” and rates it the No. 1 Communications Services stock.
• TipRanks’ analysts’ price target is $89.14, which is 22% higher than it trades today.
• Short interest is 0.29% of the float with 2.57 days to cover the float.

The Bottom Line on VEON

VEON provides wireless communication services in some of the fastest growing emerging market countries. Looks like a ground-floor, long-range investing opportunity to me.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio, it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.

On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.