STOCK ASSESSMENT - Citi raises target price for Erdemir.

Foreks - Citi has raised its target price for Erdemir from 28 TL to 30 TL in its latest report, maintaining an "OVERWEIGHT" rating.

In its assessment, Citi stated, "We are updating our forecasts based on 2024 results, the latest commodity prices, and revised expectations for 2025. Our earnings per share estimates for 2025/2026/2027 have increased by 18%/5%/3% due to a decrease in our net debt projections." Citi also noted that Erdemir could benefit from the recent rise in steel prices in Europe, emphasizing that Turkish steel prices should reflect improving supply/demand fundamentals and align with European pricing. Furthermore, while investment expenditures may remain elevated in 2025, the company's recent capital optimization efforts are expected to help stabilize its net debt position.