Categories Business Company & Industry HIGHLIGHTS HSBC Global Research: TUPRS (Hold maintained) Cem CetingucPosted on30 November, 202130 November, 2021 Strategic transition plan: Tupras management released yesterday the details of its Strategic Transition Plan … Continue ReadingHSBC Global Research: TUPRS (Hold maintained)
Categories General Sisecam acquires 60% of Ciner Group soda business for $450M Cem CetingucPosted on22 November, 2021 Turkish glassmaker Sisecam said on Saturday it would buy 60% of Ciner Group’s soda business … Continue ReadingSisecam acquires 60% of Ciner Group soda business for $450M
Categories Company & Industry Finance TUPRS TI | Downgrade to Hold: Low season Cem CetingucPosted on15 November, 2021 Strong rally: Tupras’ share price has rallied 45% in USD terms (vs. a c.5% gain … Continue ReadingTUPRS TI | Downgrade to Hold: Low season
Categories Business Company & Industry Getir poised to buy discount market chain Cem CetingucPosted on14 November, 2021 Turkish fast grocery-delivery company Getir has signed a non-binding deal to buy shares of Sok … Continue ReadingGetir poised to buy discount market chain
Categories Business Company & Industry Pegasus (PGSUS TI) evolving towards a recovery: Buy Cem CetingucPosted on16 October, 202116 October, 2021 Traffic and revenue Traffic moving in line with the company’s expectations, evolving towards a recovery … Continue ReadingPegasus (PGSUS TI) evolving towards a recovery: Buy
Categories Business Company & Industry ARCELIK: New stories, defensive structure, attractive multiples Cem CetingucPosted on13 October, 2021 We initiate coverage for Arçelik (ARCLK TI) with a 12-month target price of TRY44.00 and … Continue ReadingARCELIK: New stories, defensive structure, attractive multiples
Categories Business Company & Industry THYAO – Buy: 2021 HSBC Global Emerging Markets Forum takeaways Cem CetingucPosted on11 October, 2021 Traffic trends 3Q21 was strong driven by leisure, VFR (visiting friends and relatives) and domestic … Continue ReadingTHYAO – Buy: 2021 HSBC Global Emerging Markets Forum takeaways
Categories Business Company & Industry IKEA increases production in Turkey to shorten supply chain Cem CetingucPosted on7 October, 2021 Sweden’s flat-pack furniture giant IKEA is planning to move more production to Turkey to minimise … Continue ReadingIKEA increases production in Turkey to shorten supply chain
Categories Business Company & Industry Finance SISE – Buy: 2021 HSBC Global Emerging Markets Forum Cem CetingucPosted on4 October, 2021 Trading update.The renovation market and secondary processor demand continue to keep architectural glass volumes vibrant … Continue ReadingSISE – Buy: 2021 HSBC Global Emerging Markets Forum
Categories Business Company & Industry Company Update – ARCLK: Fortune favors Arcelik Cem CetingucPosted on1 October, 20211 October, 2021 Strong demand outlook continues in main markets After the significant rebound in 2H20, white goods … Continue ReadingCompany Update – ARCLK: Fortune favors Arcelik
Categories Company & Industry Company Outlook : TOASO Cem CetingucPosted on29 September, 2021 Domestic demand outlook There is a big supply-demand imbalance in the Turkish market currently driven … Continue ReadingCompany Outlook : TOASO
Categories Company & Industry Finance Y. F. Top Picks Update: Removing KRDMD Cem CetingucPosted on16 September, 2021 Removing KRDMD. We remove KRDMD from our top-picks as the stock came under selling pressure due … Continue ReadingY. F. Top Picks Update: Removing KRDMD
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 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 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 Business Company & Industry EEMEA Aviation: Optimism with reason but with caution Cem CetingucPosted on5 July, 2021 Summer reopenings continue amid vaccine rollout acceleration: In our previous sector update (EEMEA Airlines: Reopening … Continue ReadingEEMEA Aviation: Optimism with reason but with caution
Categories Business Company & Industry KCHOL: Reinitiating coverage with TP of TL31.8/share Cem CetingucPosted on5 July, 2021 Attractive portfolio at a high discount… We re-initiate coverage on Koç Holding as we see the … Continue ReadingKCHOL: Reinitiating coverage with TP of TL31.8/share
Categories Business Company & Industry Şişecam to invest $310M in Hungary Cem CetingucPosted on10 June, 2021 In a bid to further boost its global expansion targets, Turkish glass manufacturer Şişecam is … Continue ReadingŞişecam to invest $310M in Hungary
Categories Business Company & Industry Getir raised another $550m capital, taking its talents to the US Cem CetingucPosted on7 June, 20217 June, 2021 Getir, the Istanbul-based grocery delivery app, has raised $550m in new funding — tripling its … Continue ReadingGetir raised another $550m capital, taking its talents to the US