New Street Research - Airtel Africa Plc (AIRTELAF) New Street: Airtel Africa (Buy, TP: GBp118, +19%) Strong set of Q222 results

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New Street Research

Alastair Jones

New Street: Airtel Africa (Buy, TP: GBp118, +19%) Strong set of Q222 results

Airtel Africa has reported another strong set of results in Q222. With Q122 numbers benefitting from the weaker Covid comps, the continued strong growth across its key markets in Q222 (+22% top-line) is once again reflective of the continued demand across the region.

28/10/2021 3 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

Alastair Jones

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New Street: Airtel Africa (Buy, TP: GBp118, +19%) Strong set of Q222 results

GEM Telcos: Consolidation – THE theme driving improved trends for EM Telcos – how far can it go?

Airtel Africa (Buy, TP: 300p, +90%) Q4 25: Solid finish; underlying trends accelerating again; Mo-Mo IPO delayed

Global EM Telcos & Towers Still rising – NSR GEM Top-10 May ‘25 Update

Microsoft vs. OpenAI: Implications for investors?

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

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