JPMorgan double downgraded IHS Holding (IHS) to Underweight from Overweight with a price target of $6, down from $8. The shares are up 120% year-to-date as the company has addressed the issues that negatively impacted the stock in 2024 and continued to execute, the analyst tells investors in a research note. The firm now sees more upside to the other tower stocks due to its “modest” growth outlook for IHS’s Nigeria and Africa businesses. The company’s long-term outlook is uncertain, contends JPMorgan.
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