Anadolu Efes, Coca-Cola Icecek: Turkey Equity Market Preview

The following stocks may be active in Turkey. Symbols are in parentheses and prices are from the last close.

Turkey’s benchmark ISE National 100 index fell 1,010.51, or 1.5 percent, to 65,499.20 on Dec. 15.

Anadolu Efes Biracilik & Malt Sanayii AS (AEFES TI): The Turkish brewer was rated new “overweight”, with a 12-month price estimate of 25.3 liras per share at JPMorgan Chase & Co. analyst Matthew Webb. Meanwhile HSBC Holdings Plc kept the company at “Underweight,” raising the price estimate to 21.8 liras from 19.3 liras. Anadolu Efes rose 15 kurus, or 0.7 percent, to 23.10 liras, the highest in two months.

Coca-Cola Icecek AS (CCOLA TI): The Turkish bottler and distributor of beverages, was rated new “overweight” with a 12-month price estimate of 23.8 liras per share at JPMorgan. The company was downgraded to “neutral” from “overweight” with its price estimate raised to 22 liras from 16.6 liras at HSBC Holdings Plc. Coca-Cola Icecek was unchanged at 20 liras.

Enka Insaat & Sanayi AS (ENKAI TI): The Turkish builder was raised to “buy” from “hold” at Citigroup Inc. Enka fell for a second day, losing 4 kurus, or 0.7 percent, to 5.64 liras.

Finansbank AS, the Turkish bank owned by National Bank of Greece SA, will apply to Turkey’s market and banking regulators to sell as much as 255 million shares in a secondary public offering, it said in a statement to the Istanbul Stock Exchange yesterday. Finansbank rose 16 kurus, or 2.75 percent, to 5.98 liras, the highest close since Nov. 12.

To contact the reporter on this story: Aydan Eksin in Istanbul at

To contact the editor responsible for this story: Shaji Mathew at

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