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Rating: VIP

Open Joint Stock Company Vimpel-Communications (NASDAQ: VIP) upgraded to Buy by Citigroup

Tuesday,  Nov 10, 2015  10:25 AM ET by Dave Ficere

Citigroup upgraded Open Joint Stock Company Vimpel-Communications (NASDAQ: VIP) to Buy.
Previously Citigroup rated Neutral with price target $10.10 Open Joint Stock Company Vimpel-Communications (NASDAQ: VIP) on 03/06/2014, when the stock price was $9.49.

Vimpel-Communications (VimpelCom) is a provider of telecommunications services in Russia, the Commonwealth of Independent States (CIS) and South-East Asia. The VimpelCom group consists of telecommunications operators providing voice and data services through a range of mobile, fixed and broadband technologies. The Group includes companies operating in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan, Georgia, Armenia, as well as Vietnam and Cambodia. As of December 31, 2009, the Company developed broadband projects in Ukraine, Kazakhstan, Uzbekistan and Armenia.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.

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