IHS Towers (Buy, TP: $10, +80%) IHS Towers – Q3 23: Solid underlying top line; maintained revenue guidance, EBITDA guided to low end of range on FX - Call feedback included
IHS Towers has reported another solid top line performance on an underlying basis and KPIs were good. As expected, headline trends have materially slowed given Q3 is the first quarter fully impacted by the NGN devaluation. Guidance has been maintained but the company highlighted that EBITDA is now expected to be towards the lower end of the range.
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