Strategy Note /

Turkey: Earnings growth continues in 2022 helped by high inflation

  • We expect 155.6% earnings growth for our coverage universe in 2022E, following a 139.9% increase in 2021

  • Bottom-up valuation: We revised down our 12-month BIST-100 target to 4,000 from 4,400, implying an upside of 57%

  • Our top picks: Arcelik, Bimas, Erdemir, Migros, Sisecam, Tav Havalimanları, Turk Telekom

Zeynep Erman
Zeynep Erman

Equity Research Analyst

Cemal Demirtas
Batuhan Ozsahin
ATA Invest
26 July 2022
Published byATA Invest


Tellimer | Start Following

Start following your markets today

Follow your key analysts, markets and more so they appear here in your Watchlist - allowing you to keep an eye on the latest updates.