IHS Holding, the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Elias from TD Cowen reiterated a Buy rating on the stock and has a $17.00 price target.
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Michael Elias’s rating is based on several positive developments for IHS Holding. The company reported strong third-quarter results, surpassing market expectations, and subsequently raised its guidance for 2025 in terms of revenue, EBITDA, and adjusted free cash flow. This positive outlook is supported by the stabilization of the macroeconomic environment in Nigeria, where inflation is stabilizing, economic output is increasing, and interest rates are declining.
Additionally, IHS’s recent agreement with TIM in Brazil is expected to drive growth, with plans for up to 3,000 towers over the next five years. The successful sale of its Rwandan business further strengthens IHS’s financial position, with a significant portion of the proceeds already collected. Despite a rising cash balance, the company is not pursuing new mergers or acquisitions, instead planning to implement a capital returns program by the end of 2025. These factors contribute to a positive long-term outlook for IHS, reinforcing the Buy rating.