Is VEON Ltd. (VEON) One of the Best Cheap Stocks That Will Skyrocket?

VEON Ltd (NASDAQ:VEON) is one of the best cheap stocks that will skyrocket. On January 15, VEON Ltd (NASDAQ:VEON) confirmed that its subsidiary Kyivstar has reached over 3 million registered users for direct cell satellite connectivity powered by Starlink in Ukraine.

Is VEON Ltd. (VEON) One of the Best Cheap Stocks That Will Skyrocket?

The 3 million subscriber milestone comes as the technology proves vital in Ukraine’s southern and eastern regions, while also affirming Veon and Kyivstar’s focus on maintaining resilient communication. It also comes to Kyivstar, launching a 5G test zone in the historical center of Lviv, Ukraine.

“We will continue to lead the way in providing innovative services that Ukraine needs to build its digital future and in meeting the ever-growing demand of our customers for digital connectivity,” said Kaan Terzioğlu, VEON Group CEO and Executive Chairman of Kyivstar.

The strengthening of operations in Ukraine comes on the heels of Veon’s subsidiary in Kazakhstan, Beeline Kazakhstan Holding, and Rakuten Symphony’s signing a memorandum of understanding. The two are joining forces to explore collaboration on connectivity and digital infrastructure technologies. The MOU also paves the way for cooperation on Open RAN architectures, AI-powered network intelligence, and digital platforms.

On December 29, Benchmark Co. analyst Matthew Harrigan issued a Buy rating on VEON Ltd., setting a price target of $75.00.

Separately, on December 19, VEON’s Mobilink Microfinance Bank launched Islamic banking in Pakistan, opening its first branch in Karachi and planning more nationwide after securing a license earlier in 2025. The bank, with 114 branches, will offer Shariah-compliant products for individuals and small businesses, tapping into a sector that now accounts for over 21% of total banking assets and continues to grow rapidly.

VEON Ltd (NASDAQ:VEON) is a global digital operator providing essential connectivity and digital services, such as mobile financial services, entertainment, and health, to millions of people in emerging markets across Asia and Europe.

While we acknowledge the potential of VEON to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VEON and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.