VEON (NasdaqGS:VEON) Valuation Check as Starlink Test and Rakuten Tie-Up Advance Its Connectivity Strategy

VEON (NasdaqGS:VEON) just tied two big threads together, successfully testing Starlink Direct to Cell in Kazakhstan while also deepening its tech partnership with Rakuten on next generation networks and digital services.

See our latest analysis for VEON.

These kinds of network wins have quietly underpinned a solid run for VEON, with a strong year to date share price return sitting alongside an even more impressive multi year total shareholder return that signals momentum is still building rather than fading.

If VEON's connectivity push has your attention, this is a good moment to see what else is reshaping digital infrastructure and explore fast growing stocks with high insider ownership.

With a 42 percent one year total return and analysts penciling in almost 45 percent upside from here, is VEON still trading at a discount to its growth runway, or is the market already pricing in the next leg higher?

Most Popular Narrative Narrative: 31.2% Undervalued

With VEON last closing at $52.75 against a narrative fair value of $76.68, the valuation case leans firmly toward mispricing, built on detailed earnings math.

Analysts expect earnings to reach $688.2 million (and earnings per share of $9.59) by about September 2028, down from $984.0 million today. However, there is a considerable amount of disagreement amongst the analysts with the most bullish expecting $770 million in earnings, and the most bearish expecting $547 million.

Read the complete narrative.

Curious how slower profit growth still supports a higher value? This narrative leans on resilient revenues, shifting margins, and a future earnings multiple that might surprise you.

Result: Fair Value of $76.68 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, this upside rests on shaky ground if currency swings or weaker margins from lower yielding digital services undercut the earnings bridge that analysts are sketching.

Find out about the key risks to this VEON narrative.

Build Your Own VEON Narrative

If this perspective does not quite align with your own view, you can review the numbers yourself and craft a personalized outlook in minutes by using Do it your way.

A great starting point for your VEON research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

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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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