HALISTER1: Garanti Securities Upgrades 12-Month Target for Turkish Stocks

Garanti Securities Upgrades 12-Month Target for Turkish Stocks

(Bloomberg) -- Istanbul-based brokerage Garanti Securities revises estimate of lira’s risk-free rate to 10.5% from 11%, taking moves in 1Q into consideration, and increases 12-month target for Turkey’s benchmark Borsa Istanbul 100 Index to 109,360 points.
  • Upgrade suggests about 14% upside from Tuesday’s close
  • Downgrades Adana Cimento, Aksa Akrilik, Aygaz and Kordsa to marketperform vs outperform
  • Raises recommendation for Bolu Cimento, Cimsa, Tav Havalimanlari Holding and Turkish Airlines to outperform vs marketperform
  • Upgrades Otokar to market perform from underperform
To contact the reporter on this story: Tugce Ozsoy in Istanbul at tozsoy1@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Todd White

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ADANA TI (Adana Cimento Sanayii TAS)
AKSA TI (Aksa Akrilik Kimya Sanayii AS)
AYGAZ TI (Aygaz AS)
BOLUC TI (Bolu Cimento Sanayii AS)
CIMSA TI (Cimsa Cimento Sanayi VE Ticaret AS)

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UUID: 7947283

HALISTER1: Caribbean Haven Plans New Bank for China Billions Flow (Correct)

Caribbean Haven Plans New Bank for China Billions Flow (Correct)

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
HSBA LN (HSBC Holdings PLC)
STAN LN (Standard Chartered PLC)
1113L US (Jones Day)
BNS CN (Bank of Nova Scotia/The)

People
Jonathon Clifton (Offshore Incorporations Ltd Group)
Orlando Smith (Government of the British Virgin Islands)
Stuart Gulliver (HSBC Holdings PLC)
Wen Carson (Hksar Government)

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UUID: 7947283