New Street Research - MTN (MTN) MTN (Buy, TP: ZAR200, +136%) MTN Uganda – Q4 23 Quick Take: Good quarter, MT Service revenue guidance revised up

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New Street Research

Chris Hoare

EUR 9384.00 For Business Accounts Only

MTN (Buy, TP: ZAR200, +136%) MTN Uganda – Q4 23 Quick Take: Good quarter, MT Service revenue guidance revised up

MTN Uganda has reported a good set of Q4 numbers with both service revenue and EBITDA trends accelerating vs. Q3. The company has revised up its MT guidance for Service revenue growth.

06/03/2024 1 EN

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New Street Research

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Chris Hoare

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MTN (Buy, TP: ZAR200, +136%) MTN Uganda – Q4 23 Quick Take: Good quarter, MT Service revenue guidance revised up

Nigerian Telcos Still weathering the (macro) storm

MTN (Buy, TP: ZAR200, +135%) MTN Rwanda – Q4 23 Quick take: Good underlying trends; SR guidance maintained

EU Towers Review: A rising risk from land aggregators Cellnex (Neutral, €32) Was €30, Inwit (Neutral, €12.8) Was €12.4

Pinterest Inc. (PINS, Buy, $52 target) Reiterate Top SMID Pick as Top Line Accelerates

Amazon.com (AMZN, Buy, $235 target) AMZN First Take: Solid, but not Spectacular

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