Turkish Airlines (THYAO) has announced its financial results for the second quarter of 2024, reporting a net profit of 30.395 billion TL, significantly exceeding market expectations. Brokerage firms have updated their target prices and recommendations for THY shares.
Second Quarter Financial Performance
Turkish Airlines’ consolidated net profit for the second quarter was reported at 30.395 billion TL, well above the expected 21 billion TL. The consolidated net profit for the first six months of the year reached 37.326 billion TL, compared to 8.172 billion TL in the same period last year.
Investment Firms’ Target Prices and Recommendations
- Ak Investment : Set a target price of 530 TL for THY and maintained its “outperform” rating.
- Alnus Investment : Set a target price of 460 TL for THYAO and maintained its “buy” recommendation.
- Deniz Investment : Set a target price of 448 TL for THYAO and maintained its “buy” recommendation.
- Garanti BBVA Investment : Set a target price of 455 TL for THY and maintained its “outperform” rating.
- GCM Investment : Reduced its target price for THY from 345.34 TL to 335 TL but continued to hold the stock in its model portfolio.
- İntegral Investment : Kept its target price for THYAO at 490 TL.
- OYAK Investment : Set a target price of 458 TL for THYAO and maintained its “outperform” rating.
- Şeker Investment : Set a target price of 475.4 TL for THY and maintained its “buy” recommendation.
Impact on Investor Confidence
Turkish Airlines’ strong financial performance has reinforced investor confidence, leading to upward revisions in stock price targets. These positive developments in the aviation sector highlight THY’s potential for future growth.
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