10 Top Performing European Stocks Heading into 2025

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1) VEON Ltd. (NASDAQ:VEON)

% Increase on a YTD Basis: ~73%

Average Upside Potential: ~92.3%

VEON Ltd. (NASDAQ:VEON) is a digital operator, which provides connectivity and internet services to corporates and individuals. The company has its headquarters in Amsterdam, the Netherlands.

VEON Ltd. (NASDAQ:VEON) continues to focus on digital strategy and 4G network expansion. Wall Street experts opine that the company’s focus on technology should drive the next leg of growth. The company launched the Hambi super app, which is an AI-powered innovative platform consolidating a comprehensive suite of digital services and connectivity into a single application. This is now accessible to all mobile users in Uzbekistan.

Hambi has joined VEON Ltd. (NASDAQ:VEON)’s super app offerings throughout its markets, such as MyBL in Bangladesh, Simosa in Pakistan, and MyBeeline in Kazakhstan. All these are digital gateways to learning, entertainment, games, customer care, and more. The company’s strategic focus on digital innovation and market penetration in key regions places it in a favorable position to meet its financial targets and manage upcoming debt obligations.

VEON Ltd. (NASDAQ:VEON) announced that JazzCash, which is the financial services arm of Jazz, the company’s digital operator in Pakistan, signed an agreement with Dgpays. This partnership should allow JazzCash to modernize the payment gateway for e-commerce transactions. This will enhance transaction speed, security, and fraud prevention capabilities. Industry experts have expressed optimism regarding this development. This is because the adoption of digital wallets continues to fuel growth in cashless payments in Pakistan.

The number of digital wallet transactions saw a whopping increase of 134% YoY to 269 million for the 12 months ended 30 June 2024, making up ~87% of all online e-commerce payments.

According to Wall Street, the shares of VEON Ltd. (NASDAQ:VEON) have an average price target of $65.

While we acknowledge the potential of VEON as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than VEON but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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