10 Best Telecom Stocks to Buy According to Wall Street Analysts

5. VEON Ltd. (NASDAQ:VEON)

Number of Hedge Fund Holders: 8

Average Upside Potential as of June 24: 51.22%

VEON Ltd. (NASDAQ:VEON) is one of the best telecom stocks to buy according to Wall Street analysts. On June 18, VEON announced that its Ukrainian subsidiary, called Kyivstar, has received regulatory approval to begin testing Starlink Direct-to-Cell (D2C) services. The approval was granted by the Ukrainian National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum, and the Provision of Postal Services/NCEC.

The regulatory decision follows the integration of Kyivstar’s mobile network with Starlink’s Direct-to-Cell service. Recently, a compatibility testing of Kyivstar’s SIM cards with Starlink’s satellite network at a partner technology evaluation lab in the US proved successful. This confirms that Kyivstar SIM cards are compatible with the Starlink D2C system.

The planned commercial launch of these D2C services is scheduled for Q4 2025. The initiative is expected to enhance Kyivstar’s ability to provide essential connectivity across Ukraine, particularly in rural regions. Field testing for these services is slated to commence in select Ukrainian regions this summer. Kyivstar is Ukraine’s largest digital operator.

VEON Ltd. (NASDAQ:VEON) is a digital operator that provides telecommunications and digital services to corporate and individual customers in Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh.