Turkcell (TKC) 5G Launch in 2026 Seen as Major Growth Catalyst, BofA Retains Buy Rating

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BofA Securities has reiterated a Buy rating on Turkcell (TKC), seeing the planned 5G launch in April 2026 as a major growth catalyst. The firm anticipates Turkcell’s revenue to increase by about 7% in 2026 (excluding inflation) with 43% margins, and highlights its data center presence contributing 10% of revenue over five years. Turkcell’s strong financial position, with an expected 0.9x net debt to EBITDA in 2026, is also noted as supportive of a 50% dividend payment ratio.

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