On Friday, HSBC analyst Cenk Orcan increased the price target for Haci Ömer Sabanci Holding A.S. (IST:SAHOL) to TRY140.00, up from the previous TRY114.40. The firm also reiterated its Buy rating on the stock. The adjustment reflects the company's ongoing efforts to expand its presence in the new economy sectors, including digital, sustainable building materials, and renewable energy.
Sabanci Holding has been actively pursuing growth in its non-bank operations by focusing on new economy businesses. This year, the company has made several acquisitions to bolster its portfolio. These include the purchase of Bulutistan, a company specializing in cloud technologies, and Mannok, an Ireland-based sustainable building materials firm. Additionally, Sabanci Holding has expanded its renewable energy capacity by 21MW in Türkiye.
The company's commitment to green energy is evident in its continued green field investments in the renewable sector. Sabanci Holding aims to achieve a total renewable capacity of 3.5GW by 2026, with 3GW in Türkiye and 0.5GW in the United States. This target is a significant increase from the current capacity of approximately 2GW.
The analyst's statement highlighted Sabanci's strategic priority to grow the share of new economy businesses in its non-bank operations. The company's recent steps, including acquisitions and capacity expansions, are in line with this strategy. HSBC's revised price target reflects confidence in Sabanci Holding's direction and growth potential in these emerging sectors.
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