TURKEY MARKET OUTLOOK - Key ideas reshuffle
We have undertaken an interim reshuffle of our model portfolio by adding Anadolu Cam to our top picks and removing Yapi Kredi from our least preferred stocks list.
We are adding Anadolu Cam to our model portfolio on its attractive valuation, strong demand dynamics and solid profitability outlook. Despite its strong operating performance in 2Q19, ANACM has underperformed BIST-100 Index by 13% in the past three months. We regard ANACM’s recent underperformance as a buying opportunity as we see no reason for the weak share price performance.
Meanwhile, we remove Yapi Kredi from our least preferred list following its underperformance, particularly after some recent media reports on Unicredit’s intention of a possible corporate action on its 41% indirect stake in Yapi Kredi Bank.
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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