We reaffirm our Outperform recommendation for VimpelCom (VIP - Snapshot Report), Russia's second largest cellular carrier with over 25% market share. Reported earnings in the last quarter outpaced the Zacks Consensus Estimate, driven by foreign exchange gains.
We continue to be intrigued by VimpelCom's successful sales growth trend and its ability to retain subscribers on a recurring basis, even as overall economic factors remain weak. The company is also progressing well in expanding its 3G wireless and residential broadband network deployments, as reflected by healthy subscriber accretion in the last quarter.
Additionally, the ongoing expansion initiatives into emerging Asian markets (including Cambodia and Vietnam) are expected to boost opportunity in wireless, given the lower mobile penetration levels in these regions.
VimpelCom (VIP) : FULL ANALYST REPORT
|
Bull of the Day |
|
Every day we feature one stock with a Zacks Recommendation of Buy that is set to outperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy rated stocks and in-depth research reports, then check out Zacks Premium.
|
|
Sponsored Links 
Print
Share
Loading Stories...
-1.67
0.64