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
Categories Company & Industry HIGHLIGHTS Markets Bullish recommendations from BoFA, Goldman propel Istanbul Stock Exchange to new highs Atilla YeşiladaPosted on27 November, 2023 Bank shares in Turkey’s private sector experienced a significant surge today, following an endorsement from … Continue ReadingBullish recommendations from BoFA, Goldman propel Istanbul Stock Exchange to new highs
Categories Company & Industry HYPED Markets Sabanci Holding: BUY recommendation from HSBC analysts Atilla YeşiladaPosted on18 November, 2023 Recommendation summary The underperformance of SAHOL stock vs its listed parts YTD has pushed the … Continue ReadingSabanci Holding: BUY recommendation from HSBC analysts
Categories Business Company & Industry Turkish Equity Research: 3Q23 Preview Atilla YeşiladaPosted on30 October, 2023 3Q23 earnings season to kick off this week on October 20th 3Q23 earnings season for … Continue ReadingTurkish Equity Research: 3Q23 Preview
Categories Finance HIGHLIGHTS Markets Mehmet Karacuka: Stock market and the economıc crısıs Atilla YeşiladaPosted on24 September, 2023 “The decrease in income and interest rates does not affect every sector equally and symmetrically … Continue ReadingMehmet Karacuka: Stock market and the economıc crısıs
Categories Business Company & Industry Aselsan: Back on a USD growth path Atilla YeşiladaPosted on8 September, 2023 Wood Company equity research Following Aselsan’s 1H23 results and analyst day in Istanbul in August, … Continue ReadingAselsan: Back on a USD growth path
Categories Business Company & Industry HIGHLIGHTS TEKFEN Holding – Hold: New business plan requires time and patience Atilla YeşiladaPosted on24 August, 2023 Restructuring and new investment plans create optimism, but the current performance says ‘wait-and-see’ Divestitures/new … Continue ReadingTEKFEN Holding – Hold: New business plan requires time and patience
Categories Business Company & Industry Finance HIGHLIGHTS EnerjiSA / Upgrade to Buy: Underperformance seems exaggerated Cem CetingucPosted on5 April, 2023 Earthquake damage contained to a likely temporary FCF impact. Citizens in the 10 earthquake hit … Continue ReadingEnerjiSA / Upgrade to Buy: Underperformance seems exaggerated
Categories Business HIGHLIGHTS Markets TEB Invest banking report: Still solid despite headwinds Atilla YeşiladaPosted on27 October, 2022 Investment thesis Despite a raft of banking sector regulations since our last strategy report, (see: … Continue ReadingTEB Invest banking report: Still solid despite headwinds
Categories HYPED Markets Jefferies on Turkish equities: Companies become experts in survival Atilla YeşiladaPosted on12 August, 2022 Turkish companies have not only shown adaptability but also a survivorship bias… … Read More >Jefferies on Turkish equities: Companies become experts in survival