Stock to Buy: Analysts See 25% Upside in MTN Nigeria
For estimated 25% upside potential at its set target price, Atlass Portfolios Limited has kept MTN Nigeria on its buy recommendation list. Analysts set N250 as 12 month price target for the telecom company stock.
On the Nigerian Exchange, the telecom company stock has recently plunged following its unimpressive earnings performance, spooked by huge FX losses.
However, sell pressures on the telecom shares have reduce, with market price steady at N200. MTN Nigeria Plc was a little less than N4.2 trillion the local bourse on Friday, bucked the negative performance reported last week.
In 2024, MTN Nigeria Plc has lost about 24% of its market value due to investors that exited their positions in the market.
The telecom had hit an all-time high of N319.80 per share when it became the most valuable listed company on the Nigerian Exchange in 2024 due to huge rally.
On Monday, MTN Nigeria Plc opened at 37.5% discount to its 52 week high ahead of earnings release.Royal Exchange Return to Profitability in Q1
