HSBC Global Research
Petkim: Raise estimates on updated FX; fundamentals remain challenging
Sabanci Holding – Buy: Remains undervalued and attractive
Turkish Steel: Limited catalysts in 2024
Turkey: Q4 2023 earnings preview
Turkish Banks: Sensitivity of capital ratios to currency and asset quality
Turkish Equities: Potential winners post election
Turkish Private Banks: Skewed risk reward
Turkey Food Retailers: Margin pressure but growth momentum maintained
EnerjiSA / Upgrade to Buy: Underperformance seems exaggerated
Sabanci Holding | Buy: Focus on energy continues
Koc Holding | BUY: Strong dividend income to support net cash
Turkish automobiles: Mostly a domestic story in 2023
Turkish Aviation: Heading towards a strong summer
Tupras | Upgrade to Buy: Weaker TRY shifts balance of risk
Turkey Food Retail: Strong top-line growth helps deliver stable profitability
HSBC: Stocks we like ahead of 1Q22 earnings
DO & CO | Buy: Powering up for take-off
HSBC: TOASO – BUY Promising outlook in both the short and long term
SISE Buy: Top-line growth to offset margin decline
Turkish Airlines: Cargo and FX remain near-term drivers
Turkish Automobiles: Still appealing in a world of uncertainties
HSBC Global Research: TUPRS (Hold maintained)
Turkish Banks: Sensitivity of capital ratios to currency and asset quality
TUPRS TI | Downgrade to Hold: Low season
Pegasus (PGSUS TI) evolving towards a recovery: Buy
THYAO – Buy: 2021 HSBC Global Emerging Markets Forum takeaways
Pegasus (PGSUS TI) : Buy: 2021 HSBC Global Emerging Markets Forum takeaways
SISE – Buy: 2021 HSBC Global Emerging Markets Forum