Browsing: Valuations

Equities
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Turkish Industrials: Buying Opportunities

In a recent note, we mentioned that now may be the moment to get in on value in Turkish stocks, particularly in industrial stocks. Following that, Borsa Istanbul Industrials Index (BIST:XUSIN) has bounced back 4.5% in two trading days, beating the banks, but currently see…

Equities
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Turkish Banks: Expectations, Valuations & Risks

Expectations Over the past two months we have seen earnings upgrades coming to an end in most emerging market as well as in Turkey. Specifically, for Turkish banks, consensus lowered next year’s earnings estimate by a considerable 0.7%, bringing the cumulative cut to 1.5% since…