4 “Strong Buy” Stocks With More Than 50% Upside

The stock market has witnessed a significant plunge this year due to skyrocketing inflation and Fed’s aggressive moves to tame the price hikes. The Consumer Price Index increased 9.1% year-over-year in June, outpacing the 8.8% Dow Jones estimate. Traders are betting that the red hot inflation might prompt the Fed to…

raise interest rates by as much as 1% later this month.

Although volatility is expected to remain in the coming months, the major indexes are expected to stand higher by the end of 2022. Moreover, experts believe the current rock-bottom share prices have started to provide promising buy-low opportunities that outweigh the risk of further declines.

Given the backdrop, investors should invest in quality stocks VEON Ltd. (VEON), Xperi Holding Corporation (XPER), ArcelorMittal S.A. (MT), and Millicom International Cellular S.A. (TIGO), which could potentially soar more than 50% in the near term. These stocks are rated Strong Buy in our proprietary POWR Ratings system.

VEON Ltd. (VEON)

Headquartered in Amsterdam, Netherlands, VEON provides mobile and fixed-line telecommunications services through a range of wireless, fixed, and broadband internet services.

On June 14, the company announced the completion of a $15 million investment in Dastgyr, a Pakistan-based B2B e-commerce marketplace platform, by its VEON Ventures division. This investment should help VEON develop a digital ecosystem that delivers a growing range of services to its customers.

In the same month, the company announced the completion of a sale agreement for VEON Georgia LLC, VEON’s operating subsidiary in Georgia, for a valuation of $45 million.  This transaction is expected to streamline the company’s group operations.

VEON’s total operating revenue increased 7.5% year-over-year to ₽83.61 billion ($1.43 billion) in the fiscal quarter ended March 31, 2022. Its net cash flows from operating activities grew 58.5% from the year-ago value to ₽27.59 billion ($0.47 billion).

Analysts expect VEON’s revenue for the fiscal year ending December 2022 to come in at $8.86 billion, indicating an increase of 13.8% year-over-year. Also, the company’s EPS is expected to grow 41.3% year-over-year to $0.39 in the same period.

VEON gained 3.2% intraday to close yesterday’s trading session at $0.44. Its 12-month median price target of $2.30 indicates a 422.7% potential upside.

VEON’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, translating to Strong Buy in our proprietary ratings system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.

VEON also has an A grade in Value and Quality. It is ranked #7 of 46 stocks in the A-rated Telecom – Foreign industry.

Beyond what is stated above, we’ve also rated VEON for Growth, Momentum, Sentiment, and Stability. Get all the VEON ratings here.

Xperi Holding Corporation (XPER)

XPER operates as a consumer and entertainment solutions licensing company worldwide. It operates through two segments, Intellectual Property Licensing; and Product.

On July 5, XPER announced the acquisition of Vewd Software Holdings Limited, an independent OTT software provider, for a valuation of $109 million. This should establish XPER as a leading independent streaming media platform through its TiVo brand and the largest independent provider of Smart TV middleware globally.

XPER’s revenue increased 16.2% year-over-year to $257.42 million in the fiscal quarter ended March 31, 2022. Its operating income grew…

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