New Street Research - IHS Plc (IHS.LG) IHS Towers (Buy, TP: $10, +161%) Feedback from small group call

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New Street Research

Chris Hoare

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IHS Towers (Buy, TP: $10, +161%) Feedback from small group call

We hosted a small group zoom call with the IHS CFO, Steve Howden, and Head of IR, Colby Synesael yesterday. The company has had a torrid time over the last 2 years, but operationally has proven relatively resilient to intense pressure in our view. Our takeaway from the call was cautiously positive, though of course lots depends on Nigerian Macro.

27/03/2024 1 EN

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IHS 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
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Pan European Telecom Services and Cable

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Chris Hoare

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IHS Towers (Buy, TP: $10, +161%) Feedback from small group call

IHS Towers (Buy, TP: $6, +140%) Q3 24: Solid quarter, lower capex guide; still waiting for the strategic review – Call feedback included

EM Towers Q2 CY24 review: Improving trends in China and Africa, Indonesia stable while Indus slowed

EMEA & African Telcos & Towers - High Yield Review – Initiate Coverage on Axian Telecom and Liquid Intelligent Technologies, plus VEON, IHS Towers & Helios

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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