Morgan Stanley Remains Confident in Turkcell

In a report published Thursday, Morgan Stanley analyst Edward Hill-Wood reiterated an Overweight rating and $16.70 price target on Turkcell TKC. In the report, Morgan Stanley noted, “Turkcell delivered a very strong set of numbers despite competition concerns. 2Q14 revenues and EBITDA (adjusted for one-offs) were 1.2% and 4.5% above consensus expectations.” Turkcell closed on Wednesday at $15.70.