HSBC updates target price forecasts for Turkish banks

International financial institution HSBC has made new adjustments to its price forecasts for Turkish banking sector stocks. While the target price for Akbank was lowered from 72 TL to 63.5 TL, it was stated that the "Buy" recommendation for the bank's stock is being maintained.

For Garanti BBVA, the target price was raised from the previous level of 132 TL to 136 TL, and the "Buy" recommendation was maintained. Similarly, a downward revision was made for İş Bankası (C) shares, with the target price lowered from 15.85 TL to 14.3 TL; however, the recommendation remained unchanged, with the "Buy" rating maintained.

For Yapı Kredi shares, the target price was revised from 28.6 TL to 26.4 TL, and the "Hold" recommendation for the stock was kept unchanged.

HSBC revised its average profit expectations for banks across the sector downward by 9 percent for 2025 and by 12 percent for 2026. These updates, when evaluated alongside the sector's current economic outlook and macroeconomic developments, reveal that a certain level of caution continues to persist regarding investor expectations for banking stocks.

News Source: 12punto