MTN Nigeria Soars to New High Ahead of Q4 Earnings

MTN Nigeria Soars to New High Ahead of Q4 Earnings

MTN Nigeria Plc’s market value increased by about 8% at the Nigerian Exchange (NGX) during an intraday trading session on Friday as its share price reached its highest level in the last 52 weeks.

The telecom stock pushed above the barrier ahead of the fourth-quarter earnings release in the coming weeks. A slew of analysts expect MTN Nigeria to pay a final dividend and are looking forward to a potential public offering pledge by the group for Nigerian shareholders.

The ticker inched higher to N550 on Friday, gaining N39 on each of its 20.995 billion outstanding shares in the local bourse. This lifted its market value higher by 7.63% to N11.547 trillion – a new high in 2026.

According to market records, 1.739 million of MTN Nigeria shares valued at N967.654 million were transacted in the local bourse on the last trading day in the week. Its share price, which has been flattish, surged 7.63% to N550.

In its stock recommendation, Meristem Securities Limited projected about 45% upside potential for MTN Nigeria.  “MTNN is currently trading at NGN511.00, offering an upside potential of +44.94% toward our target price of NGN740.67. The stock’s 10-day RSI of 34.54 suggests an attractive entry point”, Meristem told investors in a stock report.

The company is expected to keep benefiting from sustained network investments, expansion into rural and underserved areas, steady subscriber growth across voice and data services, and greater adoption of technology and AI across operations. Naira Drops to N1,419 Amidst Broad Stability Projection