Shares of Eterna Plc have rebounded sharply this month, rising over 21% in October, as investors set their sights on levels above N50.
After four straight months of decline, Eterna’s share price has climbed back to around N41 on the Nigerian Exchange. This revival followed a dip to N33.70 in September, itself coming after a slide from a 2025 high of N49.95.
Earnings played a key role in the recovery. In the first half (H1) of 2025, Eterna posted a profit after tax of N573.8 million, a dramatic turnaround from the N4.8 billion loss recorded over the same period last year. The company also projected a full‑year profit after tax of about N1 billion, slightly below 2024’s N1.3 billion, yet sufficient to bolster investor confidence.
Revenue has shown positive momentum too, rising 6.8% to N157.6 billion in H1 2025. The company targets N243 billion in full-year revenue, which analysts now consider increasingly attainable given current performance.
Since the start of 2025, Eterna’s shares are up 68.7% year‑to‑date, which is a jump many see as a sign that the stock may be poised for further growth beyond N50.
On the market trend front, the stock began the year at N24.30, surged through early months to reach N42 by February, dipped midyear, and then faltered to N33.70 in September before rebounding in October. Some analysts believe that bargain hunting during the dip helped drive renewed buying momentum.
Eterna is also leveraging capital markets to support its growth. In July 2025, shareholders approved raising up to N50 billion via public offerings, private placements, rights issues, or shareholder loans. The company has the flexibility to issue new shares and appoint advisers as needed to ensure smooth implementation.
Overall, the combination of improving financials, investor optimism and strategic capital‑raising gives Eterna a stronger footing. If momentum continues, crossing over N50 may no longer just be a possibility, but a likely next milestone.
