PrescoPlc hits N2,000 milestone as stock surges 23% in February
Presco Plc shares closed at N2,015.00 on 16 February 2026, marking the first time the stock has traded above N2,000. This milestone reflects strong buying momentum, lifting the stock's February gain to 23.24% from its opening price of N1,635. Investor sentiment is likely driven by the company's FY2025 results, which show pre-tax profit rising 57.28% to N178.55 billion from N113.53 billion in 2024, supported by solid revenue growth. Revenue reached N331.18 billion, with 74% generated in Nigeria from crude and refined palm oil sales. The stock has gained 38.97% on the Nigerian Exchange this year, with over 20 million shares traded. Presco executed a successful rights issue and finalized the acquisition of Ghana Oil Palm Development Company (GOPDC), increasing ownership to 100%. Trading volume in February exceeded 15.3 million shares, more than triple January's volume. Will this sustained momentum continue, or are overbought signals flashing caution?