Airtel Africa Gains 21%, Market Value Surges Near N20trn
Telecommunication company Airtel Africa Plc spiked by about 21% in the equities market, hitting a 52-week high of N5274 per share as investors ramped up volume via the Nigerian Exchange trading platform.
A review of trading records showed that Airtel Africa bucked the negative trend on the local Exchange, amid massive sell-off pressure on bellwether companies across sectors.
Fuelled by increased market activities, the telecom company’s market value inched towards N20 trillion on the Nigerian Exchange –– now the most valuable company.
Its shareholders’ wealth increased by a whopping N3.44 trillion, driven by two record-high positive price movements in the market.
Airtel Africa gained traction as investors began to position for the second half of the year’s earnings festival. In the market, Airtel Africa is among the stocks that have reduced price volatility with share buyback programmes.
The market value of Airtel Africa Plc’s 3.758 billion outstanding shares increased sharply to N19.82 trillion, its highest on record since its listing and in the history of the Nigerian Exchange.
Equity Analysts Target Price
Equity analysts at CardinalStone Securities Limited updated their views on Airtel Africa Plc, supported by the company’s impressive financial year 2025/26 performance and management guidance.
Analysts kept their BUY recommendation unchanged and updated 12-month Target Price to N5,818.43/share from N3,904.82 previously. The telecom revenue outlook was upgraded, driven by higher capital expenditure (CAPEX) outlays in key markets.
CardinalStone Securities Limited said this also accounted for sustained cost-optimisation strategies expected to slightly offset higher energy costs in the near term, leaving the mean operating profit margin mostly flat at 33.3% over the next five years.
The investment maintains a positive outlook on the ticker, supported by robust demand, sustained network investments, and a reduction in business risk, attributable to the moderation in net debt excluding leases. MTN Nigeria Loses N1.7trn as Investors Exit Positions
