TURKEY MARKET OUTLOOK - 4Q18 Preview – Quarter of recovery
The 4Q18 quarter was marked by strengthening of the TRY, sliding bond yields and a steep plunge in oil prices. Following a period of downturn, the final quarter of the year provided relief, particularly to corporates with FX debt.
With this report, we have also amended our models along with new assumptions provided by our macro team (refer page 7). Accordingly, our one-year forward looking BIST100 index target is now 118.4k, corresponding to 19% upside potential.
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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