VEON (VEON) Is Up 9.5% After Kyivstar’s Nasdaq Debut and Starlink Partnership - What’s Changed

• Kyivstar, VEON's digital operator in Ukraine, recently completed the first field test of Starlink Direct to Cell technology in eastern Europe, followed by its business combination and debut on Nasdaq as the first pure-play Ukrainian investment in U.S. stock markets.
• This move increases VEON's visibility and investor access while highlighting ongoing innovation in digital connectivity and a renewed focus on larger, scalable markets after the sale of its Kyrgyzstan operations.
• We'll examine how Kyivstar's Nasdaq debut and Starlink partnership could reshape VEON's investment narrative and growth outlook in digital services.

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VEON Investment Narrative Recap

To own VEON stock, you need to believe the company can turn digital innovation and market scale into long-term earnings growth, despite significant macroeconomic risks facing its core markets. The Kyivstar Nasdaq debut and Starlink Direct to Cell launch meaningfully support VEON’s digital growth ambitions and visibility, but currency volatility and ongoing financial sustainability concerns remain the biggest near-term risk, while commercial traction with digital partnerships is now the clearest catalyst. On balance, this latest news enhances VEON’s growth story but does not lessen underlying operational risks or exposure to local market shocks.

VEON’s recently revised earnings guidance, forecasting 13% to 15% local currency revenue growth for the full year, aligns with the digital pivot and innovative partnerships seen with Kyivstar. This reaffirms revenue momentum as a primary catalyst, yet does not address how macro and currency headwinds could affect reported results if local currencies depreciate or economic challenges deepen.

However, investors should be aware of the ongoing uncertainty surrounding VEON’s ability to withstand...

Read the full narrative on VEON (it's free!)

VEON's outlook anticipates $5.0 billion in revenue and $698.3 million in earnings by 2028. This implies a 6.5% annual revenue growth rate, but a decrease of $286.7 million in earnings from the current $985.0 million.

Uncover how VEON's forecasts yield a $65.84 fair value, a 12% upside to its current price.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community range widely from US$45.56 to US$446.24. While digital transformation is a major catalyst, broad differences in outlook reflect underlying uncertainty in VEON's growth profile and risk exposure.

Explore 4 other fair value estimates on VEON - why the stock might be worth 22% less than the current price!

Build Your Own VEON Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your VEON research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
• Our free VEON research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate VEON's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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