Equities research analysts at :Morgan Stanley initiated coverage on shares of VimpelCom Ltd (NASDAQ:VIP) in a report released on Thursday, StockTargetPrices.com reports. The firm set an "overweight" rating and a $5.70 price target on the stock. Morgan Stanley's price target would suggest a potential upside of 36.36% from the company's previous close.
Other large investors have added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in VimpelCom by 7.2% in the first quarter. Royal Bank of Canada now owns 28,171 shares of the company's stock valued at $120,000 after buying an additional 1,888 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in VimpelCom by 48.3% in the second quarter. BNP Paribas Arbitrage SA now owns 47,202 shares of the company's stock valued at $183,000 after buying an additional 15,381 shares during the last quarter. Independent Portfolio Consultants Inc. raised its stake in VimpelCom by 9.5% in the first quarter. Independent Portfolio Consultants Inc. now owns 83,122 shares of the company's stock worth $354,000 after buying an additional 7,208 shares during the last quarter. State Street Corp raised its stake in VimpelCom by 17.2% in the first quarter. State Street Corp (NYSE:STT) now owns 186,671 shares of the company's stock worth $795,000 after buying an additional 27,382 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in VimpelCom during the fourth quarter worth $1,643,000.
Shares of VimpelCom (NASDAQ:VIP) opened at 4.18 on Thursday, MarketBeat.com reports. VimpelCom has a 52-week low of $2.71 and a 52-week high of $5.08. The stock's 50 day moving average price is $4.24 and its 200-day moving average price is $3.92. The firm's market capitalization is $7.31 billion.
Separately, Zacks Investment Research raised shares of VimpelCom from a "sell" rating to a "hold" rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. VimpelCom currently has an average rating of "Hold" and a consensus price target of $5.71.
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.