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Top Turkish Stocks and Sector Trends After Q4 2025 Earnings

Turkish stocks

Following the release of the Q4 2025 financial results, a comprehensive analysis of top Turkish stocks and 33 brokerage firms’ model portfolios reveals a strategic pivot toward high-growth potential stocks. Turkish Airlines (THYAO) continues to hold its ground as the most preferred stock across institutional portfolios, while sectors such as Banking, Retail, and Holdings dominate overall position density.

I. Top Turkish Stocks by Institutional Consensus

Brokerage firms show a strong consensus on blue-chip stocks, prioritizing liquidity and market leadership. The table below lists the top stocks based on the number of institutions including them in their “Model Portfolios” as of March 19, 2026.

Ticker Company Name No. of Institutions Median Target Price Potential Return
THYAO Turkish Airlines 23 647.25 TL 62.2%
MGROS Migros 17 887.50 TL 53.5%
AKBNK Akbank 17 109.05 TL 51.9%
TCELL Turkcell 16 215.30 TL 49.1%
BIMAS BİM Birleşik Mağazalar 16 630.00 TL 28.8%
KCHOL Koç Holding 14 345.50 TL 52.7%
YKBNK Yapı Kredi Bank 11 51.50 TL 50.2%
TUPRS Tüpraş 11 212.50 TL 11.2%
EKGYO Emlak Konut GYO 10 19.54 TL 62.6%
GARAN Garanti BBVA 10 185.20 TL 50.0%

II. High-Alpha Picks: Top Stocks by Return Potential

While blue chips offer stability, smaller or specialized stocks are projected to deliver triple-digit returns. İndeks Bilgisayar (INDES) leads the list with a projected upside of 131.0%.

  • Technology & Computing: INDES (131.0%) and Hitit Bilgisayar (HTTBT) (107.4%) reflect a bullish outlook on the digital economy.

  • Retail & Energy: Turcas Petrol (TRCAS) (115.7%) and Şok Marketler (SOKM) (109.1%) stand out for their aggressive price targets.

  • Industrial & Transport: Arçelik (ARCLK) (109.4%) and Pegasus (PGSUS) (103.2%) remain high-conviction picks for an industrial recovery in 2026.

III. Sectoral Distribution and Position Density

The analysis covers 70 different stocks across 24 sectors. Institutional positioning shows a balanced approach between defensive retail and cyclical banking.

Dominant Sectors by Position Count

  • Banking (48 positions): The clear leader in institutional preference, represented by 6 different stocks.

  • Retail (41 positions): High frequency of inclusion for defensive growth.

  • Holdings (32 positions): Diversified exposure through giants like Koç and Sabancı.

  • Transportation (22 positions): Driven primarily by the global aviation recovery.

IV. Market Outlook: The “50% Club”

The overall market sentiment remains remarkably positive. According to the distribution of 70 stocks:

  • 26 stocks offer a potential return of 50% or more.

  • 11 stocks fall by 40-50%.

  • The average potential return across all model portfolios is calculated at 48.8%.

This concentration in the high-return bracket suggests that brokerage firms expect a significant re-rating of the BIST 100 index following the Q4 2025 balance sheets and into the second half of 2026.

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