In addition to the report it published for Turkish iron and steel stocks in the morning, UK-based financial services company HSBC also updated its target prices and expectations for Turkish banks traded on Borsa Istanbul.
HSBC’s report included important changes and target price updates regarding the share performances of Turkish banks. The target price determined for Akbank was increased from 20.50 TL to 44.20 TL and at the same time, the recommendation for the stock was increased from “HOLD” level to “BUY” level. While the old target price for Garanti Bank was 31.20 TL, it was updated to 57.35 TL by HSBC. The bank maintained its “Hold” recommendation for Garanti Bank shares. The target price determined for İşbank was also increased from 21.65 TL to 26.55 TL. For Yapı Kredi Bank, the target price was increased from 19.10 TL to 22 TL.
Foreign interest in Turkey continues, and HSBC’s re-analysis of Turkish banks and the iron and steel sector reveals this interest once again. Additionally, the report on Turkish banks published recently by BofA also attracted attention. If foreign investors show renewed interest in Turkey, it is thought that the banking sector will be the first to be affected. In this context, we see that private banks especially attract attention, while public banks come in second place.