12 Stocks Under $5 With Biggest Upside Potential

6. IHS Holding Limited (NYSE:IHS)

Upside Potential: 125.86%

Stock Price as of January 17: $3.21

Number of Hedge Fund Investors: 14

IHS Holding Limited (NYSE:IHS) is an independent tower company in Africa that provides critical infrastructure and services to the telecommunications industry. The company operates a vast network of over 39,000 towers across multiple countries, including Nigeria, South Africa, and other key markets in Sub-Saharan Africa, Latin America, and the Middle East and North Africa (MENA) region.

IHS Holding Limited (NYSE:IHS) is concentrating on renewing and extending long-term contracts with major telecom operators. The company recently achieved a significant milestone by renewing and extending all tower contracts with MTN Nigeria through 2032. This agreement encompasses nearly 13,500 tenancies and approximately 23,800 lease amendments and ensures stable and predictable revenue streams. Furthermore, IHS Holding Limited (NYSE:IHS) has extended all six of its MTN country Master Lease Agreements (MLAs) into the next decade, covering over 70% of its Group revenue. These renewals not only bolster financial stability but also mitigate risks associated with power prices and foreign exchange fluctuations.

IHS Holding Limited (NYSE:IHS) remains committed to improving financial performance through disciplined cost control and capital expenditure (CapEx) optimization. Furthermore, the company is also leveraging artificial intelligence (AI) and advanced technologies to streamline operations and reduce costs. These efforts aim to enhance profitability and drive increased adjusted levered free cash flow.