IHS Holding price target lowered to $8.50 from $12 at Wells Fargo

Wells Fargo analyst Eric Luebchow lowered the firm’s price target on IHS Holding to $8.50 from $12 and keeps an Overweight rating on the shares. The firm cites the material devaluation in the Naira, which will place pressure on results through 2024. Nonetheless, Wells still believes IHS is a mispriced stock with significant longer-term upside.