New Target Price:
Kardemir Demir Çelik's target price was raised from TRY23.3 to TRY35.4.
Market Situation:
The Borsa Istanbul BIST 100 index fell below the psychological level of 8000 points on December 6 and was hovering at 7842 points on December 7.
KRDMD's Performance:
KRDMD hit its highest level of the year on October 5 at TL 32.9. However, after this peak, the share value declined to around TRY20.
Implications for Investors:
KRDMD, which opened at 23.3 TL on December 7, was trading at 23.4 TL, an increase of 1 percent as of 13.10 pm.
Value Loss:
With the declines in the stock, there was a weekly depreciation of 4.8 percent and a monthly depreciation of close to 10 percent. However, the annual gain was limited to 33 percent.
Investor Expectations:
Raising the target price may increase investor interest in KRDMD shares and positively affect the company's market capitalization. Investors can closely monitor the company's performance and market trends and shape their investment decisions accordingly.
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