Upbeat on Earnings: Afrinvest Raises Airtel, MTN Nigeria Target Price
Afrinvest Limited has increased target price of telecom stocks Airtel Africa and MTN Nigeria Plc., citing upbeat earnings expectations. In its weekly stock recommendation report, the investment firm increased target price for Airtel Africa to N3,458 per share from N1,988.87.
Also, analysts raised target price for MTN Nigeria to N304.26 from N254.87 per share. “We have revised upward our 12-month target price for AIRTELAF and MTNN to N3458 from N1988.87 and N304.26 from N254.87, respectively, in reflection of its 2024/25 performance and our upbeat earnings projections for the 12 coming months”, the investment said.
Its analysts said in the note that their earnings view is aided by upward tariff review in Nigeria, moderating inflation across its operating SSA market as well as stability of reporting currencies.
Telecom stocks have faced selling pressures, though Airtel Africa price remained steady due to thin transactions. #Upbeat on Earnings: Afrinvest Raises Airtel, MTN Nigeria Target Price# UBA Increases Dividend Payment as Profit Grows by 26%
