New Street Research - Airtel Africa Plc (AIRTELAF) New Street: African Mobile Airtel Africa: Rapid growth, sustained; big price target upgrade

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New Street Research

Chris Hoare

EUR 8824.00 For Business Accounts Only

New Street: African Mobile Airtel Africa: Rapid growth, sustained; big price target upgrade

Despite tripling from the lows we are bullish on Airtel Africa, which we see as having a tremendous growth profile for the valuation. This note looks at drivers of growth (market growth, market share, Fintech opportunity) and concludes growth will be sustained at a high level medium term.

11/01/2022 1 EN

Underlying

Airtel Africa Plc

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Chris Hoare

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New Street: African Mobile Airtel Africa: Rapid growth, sustained; big price target upgrade

Global EM Telcos & Towers – On Fire - NSR GEM Top-10 April 25 Update. IHS target to $7.7.

Global EM Telcos & Towers NSR GEM Top-10 March ‘25 Update: February another strong month for top EM Telcos

Airtel Africa (Buy, TP: £2, +45%) Bharti Airtel to buy 5% of Airtel Africa in the next 5 weeks. Squeeze incoming?

T-Mobile: Quick thoughts following the 1Q25 call

Comcast Post-1Q25 Model Update

CMCSA: Quick thoughts following the call 1Q25

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