Sisecam stock faces profit pressure as HSBC lifts target to TRY 44.00

Sisecam stock faces a difficult earnings backdrop after the company reported first-half 2026 net sales of TRY 122.0 billion, down 8 percent from the prior-year period. The latest Borsa Istanbul quote was TRY 38.22 on September 29, 2026, leaving the shares close to the lower end of their TRY 32.44 to TRY 54.10 52-week range.

HSBC raises target despite pressure

HSBC Global Investment Research lifted its Sisecam target from TRY 40.00 to TRY 44.00 in a report dated September 2, 2026, while retaining a Hold recommendation, according to YatirimX. The revision sets the target TRY 4.00 above the previous level, but the report still pointed to weak industrial demand and profitability pressure.

The second-quarter picture explains the cautious rating. Real consolidated revenue fell 12 percent year over year, while EBITDA declined 48 percent, according to YatirimX.

Cash flow becomes the key risk

Cash generation added a second pressure point in the same second-quarter assessment. Free cash flow was negative TRY 17.4 billion, and net debt to EBITDA increased from 5.3 in the first quarter to 9.3 in the second quarter, according to YatirimX. That combination makes the target increase less decisive than the headline suggests because leverage rose while operating profitability weakened.

International operations remain central to the group. First-half international sales represented 61 percent of total sales, as summarized by Distill on September 2, 2026. Sisecam operates across glass and chemicals, including flat glass, glassware, packaging and soda ash, according to Reuters.

Stock remains near yearly low

The latest SISE quote stood at TRY 38.22 on Borsa Istanbul at 6:09 p.m. TRT on September 29, 2026. The 52-week range of TRY 32.44 to TRY 54.10 places the stock 18.63 percent above its yearly low, while the market capitalization was TRY 114.4 billion on the same date.

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