TD Cowen analyst Gregory Williams downgraded IHS Holding (IHS) to Hold from Buy with a price target of $8.50, down from $17, after the company entered into a merger agreement to be acquired by MTN Group (MTNOY) for $8.50 per share. More than 40% shareholder support has been secured for the proposed transaction to conclude, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IHS:
- IHS Holding Limited trading resumes
- IHS Holding to Be Acquired by MTN Group in $6.2 Billion All-Cash Deal
- IHS Holding to be acquired by MTN Group for $8.50 per share
- IHS Holding announces proposed sale to MTN Group for $6.2B
- IHS Holding to sell Latin America tower operations to Macquarie Asset Management