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64/100 Bearish 20.05.2026 · 08:46 Finrend AI ⏱ 1 dk 👁 15 TR

Goldman Sachs Revises Target Prices for Turkish Banks

Goldman Sachs has updated its target prices for Turkish banks, citing geopolitical risks and high inflation that could delay interest‑rate cuts. The brokerage lifted the Turkish Central Bank’s (TCMB) year‑end policy‑rate forecast from 30% to 35%. The revision is seen as a development that could affect banks’ net interest margins and profitability expectations. Goldman Sachs projects that inflation will decline more slowly than expected, leading to a continued tight monetary stance. Analysts note that a high‑rate environment may curb banks’ credit growth, while rising deposit costs could pressure profitability. Public banks, in particular, may feel the impact more acutely. The target‑price adjustment signals a weakening of short‑term expectations for the Turkish banking sector. However, if inflation is brought under control and a rate‑cut cycle begins, the sector could still possess recovery potential. This is not investment advice.

📊 GS — Piyasa Yorumu

▼ down · 40%

The news includes GS's revision of targets for Turkish banks; this does not directly affect the company's own performance. Technical indicators suggest a short-term downward trend as the price is below its 20 and 50-day moving averages, the RSI is below 50, and the MACD is negative. Therefore, it is expected that the price will continue to decline slightly in the short term.

RSI 14
37.8
MACD
-5.57
24h Δ
-4.29%

📊 AKBNK — Piyasa Yorumu

▼ down · 60%

AKBNK stock declined 3.9% at the last close, falling to 69.5 TL. The RSI is in weak territory at 39.6, and the MACD is trading negatively below the signal line. Trading below the 20- and 50-day moving averages further darkens the technical outlook. While Goldman Sachs' revision provides some short-term support, the current technical structure suggests that downward pressure may persist.

RSI 14
39.6
MACD
-0.60
24h Δ
-3.94%

📊 GARAN — Piyasa Yorumu

▲ up · 60%

Goldman Sachs' target revision for Turkish banks could serve as a positive catalyst for GARAN stock. Technically, the RSI at 51.6 is in neutral territory, and the MACD has started to rise above the signal line, indicating short-term upside potential. The stock is trading above its 20-day moving average (129.2) but below the 50-day moving average (131.9), suggesting limited upside risk. A positive opening can be expected on the news, but sustained upward movement requires breaking the 132 TL resistance level.

RSI 14
51.6
MACD
-0.60
24h Δ
0.93%

📊 ISCTR — Piyasa Yorumu

■ neutral · 60%

The news involves Goldman Sachs' target revision for Turkish banks. Such institutional revisions typically have a medium-term impact, though short-term price movement may remain limited. On the technical indicators, the RSI is at 45, in neutral territory, while the MACD is below but close to the signal line. The price is near the 20-day moving average and below the 50-day moving average. Therefore, it is difficult to determine a clear direction in the short term, and the market may need time to price in the news.

RSI 14
45.0
MACD
-0.10
24h Δ
-2.61%
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