MTN Nigeria Rallies Amidst Strong Earnings Expectations
MTN Nigeria inched close to N10 trillion valuation on the Nigerian Exchange (NGX) trading platform as telecom stock gained investors’ attention. The renewed market positioning came ahead of the third quarter of 2025 earnings release.
Trading data showed that MTN Nigeria share price rose to N471 last week, reflecting the increased share volume traded by value hunters. The telecom stock dropped from its latest highs after its half year earnings euphoria fizzled out.
The telecom company market value increased by 10.82% week on week, though it is still trading behind its 52-week high in the local bourse.
Hence, the Nigerian Exchange re-rated market value of MTN Nigeria Plc 20.995 shares outstanding to N9.888 trillion – which is about 5% below its highest value in 52 weeks.
In a report, equity analysts at CardinalStone Securities Limited set MTN Nigeria target price at N526.94; and guided investors to go neutral on the telecom company.
The investment firm highlighted that given that data now contributes more than 50.0% of MTNN’s topline, the stronger-than-expected rebound in data consumption should meaningfully bolster Q3 performance.
In addition, the single-digit growth in total subscribers and robust increase in prices point to a sustained positive momentum for voice revenue.
Analysts said cost savings from revised tower lease contracts combined with the steeper-than-expected moderation in inflation suggest a more favourable Q3 ’25.
The firm said a better earnings before interest tax depreciation and amortisation margin may be on the cards, hoping it will surpass a 15 ppts year-on-year increase posted in H1 ’25.
“The fact that MTNN still retains a net short dollar position amidst an appreciating domestic currency further supports our optimism,” CardinalStone Securities Limited said. Taken together, these dynamics point to a robust Q3’25 performance, setting the stage for an equally strong FY’25 outcome. FCMB Investors Get ‘Juicy’ 16% Return in 9 Months
