OYAK Yatırım has updated its model portfolio

Oyak Investments updated its portfolio of models. In the update, Aselsan was added to the Oyak Yatırım model portfolio. The main reasons for adding Aselsan to the model portfolio are listed below;

Market vision: Positive (protected)

We include Aselsan in our portfolio of models. The main reasons for adding the company to our portfolio of models are i) stronger than expected 4Q20 financial results and positive projections for 2021, ii) performance 28% below the BIST-100 index in the last six months, iii) TL 9.5 strong mL amount of the balance order and iv) probability of winning new contracts. Our 12-month price target for Aselsan is TL 22.50 and offers a 32% yield potential compared to last night’s close.

The performance of our model portfolio is 0.4% below the index compared to our last review, which closed on January 20. Our current model portfolio includes AKBNK, GARAN, KCHOL, TCELL, BIMAS, ASELS, TKFEN, AKGRT, ANSGR and KOZAL stocks.



Valuation approach

While the Discounted Cash Flow (DCF) and International Peer Group Comparison methods are primarily used as the valuation method, the dividend yield, the Gordon growth model, and the rollover value method are also used when it is appropriate. Analysts from the Research Department of Oyak Yatırım Menkul Değerler A.Ş. they can adhere to a single method in their valuation; Based on your feedback, you can use more than one valuation method together by making multiple weights. The “Expected Market Return” of BIST-100 is calculated according to the target returns found on the market values ​​corresponding to the free float rates of the companies within the scope of the investigation. The market value of the companies covered by the investigation of Oyak Yatırım Menkul Değerler A.Ş. corresponds to approximately 80% of the total market value of BİST.

Rating methodology

Oyak Yatırım Menkul Değerler A.Ş. rates each company within the scope of the investigation according to the following criteria:

A stock’s target value refers to the value the analyst expects to achieve at the end of our 12-month performance period. A RETURN OVER INDEX recommendation is given to stocks whose target return is at least 10% higher than the “Expected Market Return” at the end of the 12-month period. INDEX RETURN is given to stocks whose target return is less than 10% of the “Expected Market Return”; PARALLEL TO THE INDEX is a recommendation given to stocks that remain within the +/- 10% band between their target performance and their expected market performance.

Oyak Yatırım Menkul Değerler A.Ş. Analysts review their valuations in parallel with the evolution of companies and can modify their recommendations on actions when they consider it necessary. However, at times, a stock’s target return can fall outside the rating ranges we imagine due to fluctuations in prices. In such cases, the analyst cannot change his advice.

Legal warning

The investment information, comments and recommendations contained herein are not within the scope of investment consulting. Investment consulting service; It is offered within the framework of an investment consulting contract to be signed between brokerage houses, portfolio management companies, banks that do not accept deposits and the client. The comments and recommendations contained herein are based on the personal opinions of those who make comments and recommendations. These views may not be appropriate for your financial situation and your risk and return preferences. Therefore, making an investment decision based solely on the information contained in this document may not produce results in line with your expectations.

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