Update shared on 19 Nov 2025
Fair value Increased 3.83%Analysts have raised their price target for Türk Hava Yollari Anonim Ortakligi from ₺461.06 to ₺478.72. They cite an improved outlook for revenue growth, despite a slightly higher discount rate and a reduced profit margin forecast.
What's in the News
- Turkish Airlines has denied media reports claiming it is in negotiations to acquire all shares in SunExpress, confirming that no change has occurred in the joint venture's shareholding structure. (Borsa Istanbul filing, Nov 5)
- Despite the company's denial, sources report that Turkish Airlines is attempting to acquire Deutsche Lufthansa AG's 50% stake in SunExpress. The company is aiming to expand Europe-Middle East routes and leverage new market opportunities. (Corriere della Sera)
- The reported move to integrate SunExpress is consistent with Turkish Airlines’ broader international growth strategy and follows recent investment plans in Spain's Air Europa. (Corriere della Sera)
- Lufthansa has declined to comment on the reported negotiations, and Turkish Airlines had not responded to further inquiries at the time of publication. (Corriere della Sera)
Valuation Changes
- Consensus Analyst Price Target has risen from TRY 461.06 to TRY 478.72. This indicates a modest upward adjustment in fair value estimates.
- Discount Rate has increased slightly from 41.13% to 41.69%. This reflects a marginally higher expected risk or cost of capital.
- Revenue Growth forecast has improved from 7.29% to 8.53%. This suggests stronger expectations for the company's top-line expansion.
- Net Profit Margin estimate has declined from 7.83% to 6.87%. This signals more cautious projections for profitability.
- Future P/E Ratio is now 21.55x, up from 19.08x. This implies a higher valuation multiple based on future earnings.
Disclaimer
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