UPDATE: JPMorgan Upgrades IHS Holding (IHS) to Overweight

(Updated - November 18, 2021 4:13 AM EST)

JPMorgan analyst Philip Cusick upgraded IHS Holding (NYSE: IHS) from Neutral to Overweight with a price target of $22.00 (from $20.00).

The analyst comments "We raise our December 2022 price target to $22 (prior $20) and upgrade to an Overweight rating. IHS is the 4th largest independent Emerging Market tower company with ~30k towers across 9 countries in Africa, Latin America, and EMEA. The company owns, operates and develops shared telecommunication infrastructure for telecom network operators, focusing on emerging markets where IHS leverages its strong engineering expertise. We like the strong growth profile in regions where IHS operates, which is fueled by high population growth, expanding economic activity, higher penetration and increased usage, and transition to 4G and eventually 5G. The company has a strong operating track record driven by its long tenured and experienced management team to deliver results in challenging markets."

For an analyst ratings summary and ratings history on IHS Holding click here. For more ratings news on IHS Holding click here.

Shares of IHS Holding closed at $15.68 yesterday.

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