HALISTER1: Sisecam Extends Gains to Record as 1Q Profit Beats Estimates

Sisecam Extends Gains to Record as 1Q Profit Beats Estimates

(Bloomberg) -- Shares of Sisecam rise as much as 5.5% as 1Q profit beats estimates.
  • Trades 3.8% higher at 4.69 liras as of 10:21am in Istanbul, biggest gain since Jan. 12 and highest on record
  • Vol. 8.3x 20-day intraday average
  • “1Q17 results were strong in every aspect and exceeded expectations,” Halil Kahve, analyst at Garanti Securities in Istanbul, says in report
  • Garanti Securities raised recommendation for Sisecam to outperform vs market perform with PT 5.10 liras on Thursday
  • Unit Trakya Cam, 69%-owned by Sisecam, also advances, rising 4% on better-than-expected 1Q net income
    • “Improving market conditions both in domestic and international markets resulted in strong top-line growth, especially in Russia, with the Russian economy recovering and the ruble appreciating against TRY,” says Global Securities analyst Utku Uygur in note
  • RELATED: Sisecam 1Q Net Income Beats Est.
  • RELATED: Turkey’s Trakya Cam 1Q Net 114.8m Liras, Beats Estimates

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SISE TI (Turkiye Sise ve Cam Fabrikalari AS)
CMLOJ TI (Camis Lojistik Hizmetleri ve Ticaret AS)

People
Halil Kahve (Garanti Yatirim Menkul Kiymetler AS)
Utku Uygur (Global Menkul Degerler AS)

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