2025-05-15-Jefferies-下周抢占席位全球通信塔公司展望_6页_196kb

Summary of Global Infrastructure Equity Research Report

Event Overview

The report promotes a Jefferies online fireside discussion on the global TowerCo sector. Scheduled for Tuesday, May 20, 2025, from 3:00 PM BST, 4:00 PM CEST, or 10:00 AM EDT, the event features speakers Jonathan Petersen and Graham Hunt, hosted by William Beavington. Registration is required and offers live access.

Key Topics Covered

• TowerCo performance in a volatile macroeconomic environment.
• 2025 top investment picks and expectations for the second half of the year.
• Capital allocation strategies, including investments in emerging markets, with a focus on Africa's growth opportunities and long-term demographic changes.
• Africa-specific investments and balancing capital priorities.

Rating and Valuation Summary

Jefferies provides equity ratings: Buy (expected >15% return), Hold (expected -10% to +15% return), and Underperform (expected <= -10% return). Ratings are based on factors like market cap, growth, volatility, and valuation metrics such as DCF, EV/EBITDA, P/E. Analyst compensation is not tied to specific recommendations.

Relevant Stocks

Stocks discussed include Cellnex, INWIT, Helios Towers, AMT, Crown Castle, SBA Communications, and IHS Towers.

Key Risks and Considerations

The outlook highlights TowerCos' reliable growth amid macro uncertainty, but risks include economic fluctuations, currency changes, and regulatory challenges. The 'Africa Opportunity' is emphasized for long-term demographic-driven investments. No replay is available for the event.

Analyst Certification

All analysts certify that views reflect personal opinions, free from compensation-linked biases, with detailed disclosures on non-US analysts and potential conflicts of interest.

Investment Recommendations

Jefferies Franchise Picks select only Buy-rated stocks based on fundamental analysis, including analyst conviction and risk/reward ratios. Stocks are added and removed based on performance and market conditions. Returns are not guaranteed, and past performance is not indicative of future results.