Categories Company & Industry Finance HIGHLIGHTS Turkey: Q4 2023 earnings preview Cem CetingucPosted on5 February, 2024 Aggregate non-bank profits to grow 11% y-o-y, decline 50% q-o-q. The Q4 earnings season will … Continue ReadingTurkey: Q4 2023 earnings preview
Categories Business Company & Industry HIGHLIGHTS Turkish Airlines to double fleet size in a decade Cem CetingucPosted on25 January, 2024 Turkish Airlines aims to double the number of aircraft in its fleet in 10 years and … Continue ReadingTurkish Airlines to double fleet size in a decade
Categories Company & Industry HIGHLIGHTS Markets JP Morgan is negative for major Turkish bank stocks Atilla YeşiladaPosted on23 January, 2024 JP Morgan equity research team put Akbank, Garanti, Isbank, and Yapi Kredi on Negative Catalyst … Continue ReadingJP Morgan is negative for major Turkish bank stocks
Categories Company & Industry HIGHLIGHTS Markets Turkish stocks in 2024: Trading a thin line Atilla YeşiladaPosted on16 January, 2024 Global: The “Goldilocks” period is set to end We see a higher-than-usual probability of the … Continue ReadingTurkish stocks in 2024: Trading a thin line
Categories Business Company & Industry HIGHLIGHTS Turkish companies to add capacity in petrochemicals Atilla YeşiladaPosted on16 January, 2024 Turkey’s petrochemicals industry, which is one of the leading sectors that provides input to all … Continue ReadingTurkish companies to add capacity in petrochemicals
Categories Business Company & Industry HYPED HSBC equity research: Türkiye Sigorta (TURSG TI)– Buy: Another Goldilocks year Atilla YeşiladaPosted on7 January, 2024 Shares have yet to price in robust earnings outlook for 2024: We raise our FY24e … Continue ReadingHSBC equity research: Türkiye Sigorta (TURSG TI)– Buy: Another Goldilocks year
Categories Company & Industry HIGHLIGHTS Markets Erdogan and Simsek warn against manipulation, down the stock market Atilla YeşiladaPosted on23 December, 2023 Turkish stocks lost a whopping 2.67% in Friday’s trading, as President Erdogan and economy czar … Continue ReadingErdogan and Simsek warn against manipulation, down the stock market
Categories Company & Industry HIGHLIGHTS Markets Equity Outlook for 2024: Expecting a challenging first half, followed by a stronger trend in the second half Atilla YeşiladaPosted on20 December, 2023 In 2023, after being positive between May and September, we had been cautious on Turkish … Continue ReadingEquity Outlook for 2024: Expecting a challenging first half, followed by a stronger trend in the second half
Categories Business Company & Industry HIGHLIGHTS ENKA Insaat: Upgrade to Buy- A sensible choice for 2024 Atilla YeşiladaPosted on20 December, 2023 A viable option for the difficult 2024 With a portfolio located mostly outside Türkiye, Enka … Continue ReadingENKA Insaat: Upgrade to Buy- A sensible choice for 2024
Categories Business Company & Industry Finance Markets BofA on Turkish bank stocks: Why domestic-retail investors shouldn’t be a worry Atilla YeşiladaPosted on17 December, 2023 Fears of possible overhang as retail clients feel squeeze One issue that frequently comes up … Continue ReadingBofA on Turkish bank stocks: Why domestic-retail investors shouldn’t be a worry
Categories Business Company & Industry HYPED Company Update Report: Galata Wind (GWIND) Atilla YeşiladaPosted on17 December, 2023 Rating: Outperform Price (TL): 23.72 Target Price (TL): 38.00 Potential Return: 60% Geographically Dispersed … Continue ReadingCompany Update Report: Galata Wind (GWIND)
Categories Business Company & Industry Finance HIGHLIGHTS Turkey scores 3 major foreign financing victories in a week Atilla YeşiladaPosted on16 December, 2023 Turkey’s current account deficits are a perennial concern for investors, because their financing has been … Continue ReadingTurkey scores 3 major foreign financing victories in a week
Categories Business Company & Industry HIGHLIGHTS Credit Suisse Pegasus recommendation: Decent outlook for the high season, OUTPERFORM Atilla YeşiladaPosted on5 December, 2023 We revise our 2023 EBITDA margin estimate slightly higher ahead of 2Qs (to 35.2% from … Continue ReadingCredit Suisse Pegasus recommendation: Decent outlook for the high season, OUTPERFORM
Categories Business Company & Industry Markets BoFA on Turkish banks: The Great Normalization – Buy private banks Atilla YeşiladaPosted on3 December, 2023 Risk-reward is appealing ‘Normalization’ is probably the best word to describe the ongoing dynamics in … Continue ReadingBoFA on Turkish banks: The Great Normalization – Buy private banks
Categories Company & Industry HIGHLIGHTS Markets Bullish recommendations from BoFA, Goldman propel Istanbul Stock Exchange to new highs Atilla YeşiladaPosted on27 November, 2023 Bank shares in Turkey’s private sector experienced a significant surge today, following an endorsement from … Continue ReadingBullish recommendations from BoFA, Goldman propel Istanbul Stock Exchange to new highs
Categories Company & Industry HYPED Markets Sabanci Holding: BUY recommendation from HSBC analysts Atilla YeşiladaPosted on18 November, 2023 Recommendation summary The underperformance of SAHOL stock vs its listed parts YTD has pushed the … Continue ReadingSabanci Holding: BUY recommendation from HSBC analysts
Categories Business Company & Industry Finance HIGHLIGHTS Fitch: Turkish banks face “government intervention risk” Atilla YeşiladaPosted on14 November, 202314 November, 2023 Fitch rating agency warned about the risks faced by the Turkish banking system, largely arising … Continue ReadingFitch: Turkish banks face “government intervention risk”
Categories Business Company & Industry Turkish Equity Research: 3Q23 Preview Atilla YeşiladaPosted on30 October, 2023 3Q23 earnings season to kick off this week on October 20th 3Q23 earnings season for … Continue ReadingTurkish Equity Research: 3Q23 Preview
Categories Business Company & Industry HIGHLIGHTS ANALYSIS: Turkey switches to inflation accounting, Borsa Istanbul suffers a heart attack Atilla YeşiladaPosted on25 October, 2023 Turkish companies’ end-2023 balance sheets will be inflation-adjusted, with adjustments expected to continue until 2026 … Continue ReadingANALYSIS: Turkey switches to inflation accounting, Borsa Istanbul suffers a heart attack
Categories Business Company & Industry Turkish stocks 3Q earnings review by HSBC Research Atilla YeşiladaPosted on25 October, 2023 Summary We present our Q3 2023 forecasts for Türkiye coverage We expect total non-bank profits … Continue ReadingTurkish stocks 3Q earnings review by HSBC Research
