StoneX reiterates Buy rating on Kyivstar stock amid conflict

StoneX has maintained its positive outlook on Kyivstar Group (NASDAQ:KYIV) stock amidst ongoing conflict in Ukraine. The investment firm has reaffirmed its Buy rating and set a price target of $20.00 per share. According to InvestingPro analysis, the stock appears undervalued, with a Fair Value significantly above its current level. Kyivstar's financial metrics, including an impressive 89% gross profit margin and 13% free cash flow yield, contribute to the bullish thesis.

However, the company has postponed its Capital Markets Day from November 17 to an unspecified date in 2027. Kyivstar will instead participate in VEON’s Capital Markets Day on November 16. The telecommunications giant has maintained its 2026 revenue guidance, projecting growth between 14% and 16% and earnings before interest, taxes, depreciation, and amortization (EBITDA) growth between 9% and 12%. This guidance was revised during the second-quarter 2026 earnings release.

Kyivstar is set to report earnings before the market opens on November 6. StoneX analyst Matthew Harrigan reiterated the Buy rating and $20.00 price target, noting that the conflict in Ukraine is escalating with increasing civilian casualties in key cities like Kyiv. The company's second-quarter 2026 financial results showed a revenue increase of 19% year-over-year, reaching $339 million.

However, earnings per share were $0.33, falling short of expectations of $0.36 due to a non-cash warrant charge that impacted net profit.

Benchmark has also reaffirmed its Buy rating for Kyivstar, setting a price target of $20.00 following the release of the second-quarter earnings and upward revisions to the guidance. While Kyivstar is experiencing growth in telecom and digital services, the financial performance has been impacted by certain factors.