Vak?f cuts target for Bizim Toptan stock from TRY 34.00 to TRY 30.00

Vak?f Yat?r?m cut its target for Bizim Toptan stock from TRY 34.00 to TRY 30.00 on August 18, 2026, according to Yatirimci.AI. The reduction represented an 11.76 percent cut, while the broker kept its Hold recommendation.

The target revision followed Bizim Toptan's first-half results. The company is working through weaker sales and continued losses, making margin control the central investment question.

What does the cut mean for margins?

Quartr reported that first-half revenue fell 16.6 percent year over year to TRY 19.85 billion in 2026, from TRY 23.81 billion in the first half of 2025. First-half EBITDA declined to TRY 592.7 million from TRY 788.9 million, showing that cost controls have not yet offset the sales contraction.

The earnings mix was less negative at the bottom line. First-half net loss narrowed to TRY 500.5 million from TRY 993.1 million a year earlier, while second-quarter EBITDA margin fell to 3.1 percent from 3.3 percent.

Three dated steps behind the revision

On August 17, 2026, Bizim Toptan reported a first-half net loss of TRY 487.7 million through its market disclosure record at Yatirimci.AI. On August 18, 2026, Deniz Yat?r?m cut its target from TRY 36.00 to TRY 31.10 and kept Hold, as reported by Yatirimci.AI. Later on August 18, 2026, Vak?f Yat?r?m cut its target from TRY 34.00 to TRY 30.00, also retaining Hold.

When are the next results due?

Bizim Toptan's next reporting date is November 5, 2026, for third-quarter results, according to Quartr. The release will test whether the lower sales base can support further improvement in profitability.

The dated market picture

Bizim Toptan was last at TRY 17.39 on Borsa Istanbul on October 16, 2026. The same market reference put its market capitalization at TRY 1.4 billion, keeping the valuation discussion closely tied to the company's ability to restore positive earnings.

Market context: Market report BIST 100.

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