Categories Business Company & Industry Company Update | MPARK: Hitting all the right notes Cem CetingucPosted on10 September, 202110 September, 2021 Strong 1H results and favorable outlook… After finishing a year of volatility with resilient financial … Continue ReadingCompany Update | MPARK: Hitting all the right notes
Categories Business Company & Industry Finance Turkish Industrials: Earnings Momentum set to continue in 2H; top picks KOC and Sabanci Cem CetingucPosted on10 September, 2021 Following another strong quarter supported by both healty domestic demand and exports,we increase our F2Y1E-22E … Continue ReadingTurkish Industrials: Earnings Momentum set to continue in 2H; top picks KOC and Sabanci
Categories Company & Industry Finance TURSG – Buy: Diamond in the rough Cem CetingucPosted on8 September, 2021 Türkiye Sigorta is the market leader in Turkey’s non-life insurance sector, with a 13.7% market … Continue ReadingTURSG – Buy: Diamond in the rough
Categories Company & Industry Economy Turkish Banks: Sector Monthly Data Cem CetingucPosted on7 September, 2021 Lower monthly ROE of 12% due to higher trading loss Turkish banking sector’s July net … Continue ReadingTurkish Banks: Sector Monthly Data
Categories Company & Industry Economy Deutsche Bank/TRY: carried away Cem CetingucPosted on7 September, 2021 Deutsche Bank closed its long position recommendation for dollar/TL, which it opened in May, after … Continue ReadingDeutsche Bank/TRY: carried away
Categories Business Company & Industry HIGHLIGHTS Burger King Turkey, China enterprises launches IPO Atilla YeşiladaPosted on3 September, 2021 The largest global franchisee of Restaurant Brands International Inc. has picked Citigroup Inc. and HSBC … Continue ReadingBurger King Turkey, China enterprises launches IPO
Categories Business Company & Industry IHC seeks investment opportunities in Turkey Cem CetingucPosted on27 August, 202127 August, 2021 Abu Dhabi conglomerate International Holding is seeking investment opportunities in Turkey in sectors including healthcare, … Continue ReadingIHC seeks investment opportunities in Turkey
Categories Company & Industry Finance HSBC: Turkish Aviation sector Cem CetingucPosted on27 August, 2021 Normalisation on track and risks appear more manageable: Air traffic in Turkey is exhibiting a … Continue ReadingHSBC: Turkish Aviation sector
Categories Company & Industry Finance DO & CO (DOCO TI) : Upgrade to Buy: Emerging stronger Cem CetingucPosted on22 August, 2021 Overall business is on an improving trend: We believe DO & CO is on a … Continue ReadingDO & CO (DOCO TI) : Upgrade to Buy: Emerging stronger
Categories Company & Industry General Chip shortage forces Toyota Turkey to cease production Cem CetingucPosted on20 August, 202121 August, 2021 As the semiconductor shortage keeps bedeviling the automotive industry, Toyota is pausing production at its … Continue ReadingChip shortage forces Toyota Turkey to cease production
Categories Business Company & Industry EEMEA Refiners: Crack spreads, differentials, valuations Cem CetingucPosted on20 August, 2021 2Q21 results: All three companies reported strong 2Q21 updates, with large oil price related gains … Continue ReadingEEMEA Refiners: Crack spreads, differentials, valuations
Categories Business Company & Industry Arcelik (ARCLK TI) | Buy: Incorporating new acquisitions Cem CetingucPosted on18 August, 2021 New acquisitions to accelerate top-line growth but dilute margins: Arcelik completed the acquisitions of Hitachi … Continue ReadingArcelik (ARCLK TI) | Buy: Incorporating new acquisitions
Categories Business Company & Industry Finance Koc Holding: Discount to NAV still wide vs history; attractive entry point vs subs; reiterate Buy Cem CetingucPosted on18 August, 2021 We reiterate our Buy rating on Koc Holding (Koc) post 2Q results announced on July … Continue ReadingKoc Holding: Discount to NAV still wide vs history; attractive entry point vs subs; reiterate Buy
Categories Business Company & Industry VAKBN: 2Q Review & Target Price Revision: Prevailing Legacy of 2020 Cem CetingucPosted on15 August, 2021 2Q results slightly above estimates on lower CoR The bank announced its 2Q21 solo net … Continue ReadingVAKBN: 2Q Review & Target Price Revision: Prevailing Legacy of 2020
Categories Company & Industry General Politics Turkey’s defense industry is taking tremendous strides.. Why? Cem CetingucPosted on9 August, 2021 In June, the Turkish navy successfully test-fired the Atmaca, Turkey’s first domestically produced long-range anti-ship cruise missile. … Continue ReadingTurkey’s defense industry is taking tremendous strides.. Why?
Categories Business Company & Industry Economy Mevlut Çavuşoğlu on ASEAN Cem CetingucPosted on9 August, 20219 August, 2021 Asia, the cradle of some of the oldest civilizations, has again been gaining a pivotal … Continue ReadingMevlut Çavuşoğlu on ASEAN
Categories Business Company & Industry Turkish Banks: Sector Monthly Data Cem CetingucPosted on6 August, 2021 Strong monthly ROE of 17% on higher other income Turkish banking sector’s June net income … Continue ReadingTurkish Banks: Sector Monthly Data
Categories Business Company & Industry Company outlook | Hepsiburada: Trading up to the challenges Cem CetingucPosted on5 August, 2021 Hepsiburada (D-Market Electronic Services & Trading) is the second-largest e- commerce player in Turkey, with … Continue ReadingCompany outlook | Hepsiburada: Trading up to the challenges
Categories Business Company & Industry Trendyol aims to Hit $16.5 Billion Valuation Cem CetingucPosted on4 August, 20214 August, 2021 By Ercan Ersoy and Ivan Levingston General Atlantic among firms leading $1.5 billion investment Alibaba-backed … Continue ReadingTrendyol aims to Hit $16.5 Billion Valuation
Categories Company & Industry General HIGHLIGHTS First flare at Sakarya Gas Field Cem CetingucPosted on29 July, 2021 Turkey lit the first gas flare in the Sakarya Gas Field located in the Black Sea during a ceremony on July … Continue ReadingFirst flare at Sakarya Gas Field