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ARCLK - Arcelik AS News Story

TRY32.58 0.0  0.0%

Last Trade - 4:00pm

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.86bn
Enterprise Value £2.65bn
Revenue £3.92bn
Position in Universe 21st / 648

BUZZ-Arcelik: JPM ups to "overweight" awaits strong earnings cycle

Fri 26th July, 2019 7:04am
** JP Morgan ups Turkish home appliance maker Arcelik
 ARCLK.IS  to "overweight" from "neutral", says solid Q2 result
lie ahead
    ** The broker expects Arcelik to benefit from an easing rate
cycle and positive economic growth in Q4 in Turkey
    ** Expects H2 to be stronger in terms of EPS, driven by high
season in international markets and expected loan roll-overs
    ** With peer Whirlpool's  WHR.N  exit from the Turkish
market, Arcelik should gain strong market share, JP Morgan says
    ** The broker sees further cuts on the way after "bold"
Turkish benchmark interest rate cut of 425 bps; says impact of
interest rate cycle is significant for the company
    ** Adds that it finds Arcelik inexpensive and expects shares
to rebound from its 10-year low 

 ((berna.suleymanohlu@thomsonreuters.com))
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