Indeks Bilgisayar (INDES TI) - 1Q results undermined by Datagate: Maintain Buy
Datagate's revenue loss due to TT's imposition of stricter rules for contracted phone sales has had a negative impact on Indeks' 1Q results.
The company will pay a cash dividend of TRY63m (9.9% yield) starting 29 May.
We cut our DCF-based TP by 16% to TRY15.83. With 46% upside to our TP, we maintain our BUY rating.
Indeks Bilgisayar sistemelri Muhendislik Sanayi Ve Ticaret is an information technology company based in Turkey. Co. is principally engaged in the trade of all kinds of 'Information Technology' products for the purpose of wholesale trading.
TEB Investment equity research analysts and strategist team consists of 8 analysts with an average finance sector experience of 15 years and special focus on international investors.
With our 6 equity research analysts we cover 93 companies across 21 sectors, reflecting 80% of the total market capitalization of all BIST companies and 86% of the BIST100 companies. Our strategy team provides in depth top-down and bottom-up market views with insight on FX and bond markets by publishing sectoral and strategic reports both in English and Turkish.
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