Bank of America (BofA), a giant US-based financial services organization, updated its target prices for Turkish banks and changed its recommendations along with these updates. Here are BofA Securities’ target price and recommendation changes for Turkish banks:
Akbank (AKBNK):
- New Price Target: 38.6 TL
- Old Price Target: 16.70 TL
- Recommendation: Neutral
Garanti Bank (GARAN):
- New Price Target: 70.7 TL
- Old Price Target: 32.4 TL
- Recommendation: Buy
Yapı Kredi Bank (YKBNK):
- New Price Target: 23.95 TL
- Old Price Target: 10.9 TL
- Recommendation: Buy
Türkiye İş Bankası (ISCTR):
- New Price Target: 26.15 TL
- Old Price Target: 11.8 TL
- Recommendation: Under-index return
VakıfBank (VAKBN):
- New Price Target: 14.0 TL
- Old Price Target: 8.65 TL
- Recommendation: Under-index return
Halkbank (HALKB):
- New Price Target: 10.70 TL
- Old Price Target: 5.35 TL
- Recommendation: Under-index return
These updates from BofA Securities show that their expectations for Turkish banks have increased. It is noteworthy that the “Buy” recommendations were increased, especially for Garanti Bank and Yapı Kredi Bank. In addition, the fact that the target prices of other banks have been increased shows that the sector has a positive outlook in general.