Categories Atilla Yeşilada HIGHLIGHTS Markets COMMENTARY: TL assets hit by EM concerns, carry-unwind, dim earnings prospects Atilla YeşiladaPosted on29 August, 2024 Turkey’s 15 minutes under the stage lights appeared to over in August, as TL came … Continue ReadingCOMMENTARY: TL assets hit by EM concerns, carry-unwind, dim earnings prospects
Categories HIGHLIGHTS Markets Why are Turkish stocks slumping, while EM rally accelerates? Atilla YeşiladaPosted on18 August, 2024 Emerging-market stocks rallied on Friday, driven by tech companies in Asia, following U.S. data which … Continue ReadingWhy are Turkish stocks slumping, while EM rally accelerates?
Categories Company & Industry HIGHLIGHTS Markets TURKEY equity strategy: Waiting for rate cuts Atilla YeşiladaPosted on16 August, 2024 Investors are trying to gauge when the macro policies will bare fruit and the timing … Continue ReadingTURKEY equity strategy: Waiting for rate cuts
Categories Finance HIGHLIGHTS Markets Commentary: Economic slow-down is undermining the stock market Atilla YeşiladaPosted on12 August, 2024 The great volatility experienced in the first two days of the past week gave way … Continue ReadingCommentary: Economic slow-down is undermining the stock market
Categories Company & Industry HYPED Morgan Stanley Akbank equity report: FY24 guidance lowered Atilla YeşiladaPosted on31 July, 2024 FY24 revised guidance. Akbank revised its FY24 guidance with 2Q24 earnings and is now expecting: … Continue ReadingMorgan Stanley Akbank equity report: FY24 guidance lowered
Categories Business Company & Industry HIGHLIGHTS HSBC TAV Airports report: Downgrade to Hold: Close to fair value Atilla YeşiladaPosted on30 July, 2024 Highlights FCF and dividend story intact but valuation less attractive after strong re-rating Traffic outlook … Continue ReadingHSBC TAV Airports report: Downgrade to Hold: Close to fair value
Categories Company & Industry HYPED Markets HOLD recommendation for Turkish glassware giant by HSBC Research Atilla YeşiladaPosted on2 June, 2024 Key points We foresee sales volume recovery in key product groups this year but a … Continue ReadingHOLD recommendation for Turkish glassware giant by HSBC Research
Categories Company & Industry Finance HIGHLIGHTS Citi Research on Turkish Bank Shares: Neutral Atilla YeşiladaPosted on24 May, 2024 Turkish equities, particularly for banks, have enjoyed very strong performance since Turkey’s return to more … Continue ReadingCiti Research on Turkish Bank Shares: Neutral
Categories Business Company & Industry General HIGHLIGHTS Sabanci Holding – Buy: Remains undervalued and attractive Cem CetingucPosted on13 April, 2024 NAV update. We have revisited our NAV model and applied higher valuations to the banking … Continue ReadingSabanci Holding – Buy: Remains undervalued and attractive
Categories Company & Industry HIGHLIGHTS Markets HSBC Turkish aviation report: Still refreshing Atilla YeşiladaPosted on9 March, 2024 Still attractive despite normalisation trends Prospects for the 2024 tourism season are positive; travel agencies … Continue ReadingHSBC Turkish aviation report: Still refreshing
Categories Atilla Yeşilada HIGHLIGHTS Markets Video: Turkish stocks are rallying for all the wrong reasons Atilla YeşiladaPosted on24 February, 2024 Turkey’s main stock index rallied 25% year to date in TL terms, leading all major … Continue ReadingVideo: Turkish stocks are rallying for all the wrong reasons
Categories Business Company & Industry HYPED Turkey Food Retail: 2024 likely a year of two halves Atilla YeşiladaPosted on18 February, 202418 February, 2024 By Citi Research CITI’S TAKE We update our models to incorporate recent minimum wage … Continue ReadingTurkey Food Retail: 2024 likely a year of two halves
Categories Company & Industry HIGHLIGHTS Yapi Kredi Bank: Downgrade to Hold: Risk/reward looks balanced after recent run Atilla YeşiladaPosted on18 February, 2024 Equity report by HSBC Global Research Outlook summary Last six months’ strong performance brought 2024e … Continue ReadingYapi Kredi Bank: Downgrade to Hold: Risk/reward looks balanced after recent run
Categories Company & Industry HIGHLIGHTS Markets Foreks News Service 4Q2023 stock earnings survey Atilla YeşiladaPosted on7 February, 2024 Foreks Haber’s (News Service) is the leading wire service coverign economy and financial markets. It … Continue ReadingForeks News Service 4Q2023 stock earnings survey
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 Finance HIGHLIGHTS Markets Asset Strategy for Turkey 2024: Stocks and dollar bonds may shine Atilla YeşiladaPosted on1 January, 2024 Regarding Turkish assets, we are selective on stocks and Eurobonds and more neutral on lira … Continue ReadingAsset Strategy for Turkey 2024: Stocks and dollar bonds may shine
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 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