IHS Holding: Downgrade To Hold As Profit Growth Outlook Is No Longer Attractive

I had a buy rating for IHS Holding Limited ( IHS ) previously, as I thought the adjusted EBITDA growth outlook was amazing but the market was not really appreciating it. My view wasI’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment runway, and management qua ...