IHS Holding price target raised to $11 from $10 at RBC Capital

RBC Capital analyst Jonathan Atkin raised the firm’s price target on IHS Holding to $11 from $10 and keeps an Outperform rating on the shares. The company’s Q4 results were "strong" with better-than-expected revenue and EBITDA, the analyst tells investors in a research note. The firm further sees "secular demand drivers" for the company as African markets are some of the lowest penetrated in the world with among the highest subscriber growth rates, and there is a long runway for towercos on future network upgrade cycles as 2G/3G technology is still common.