Gedik Yatırım updates model portfolio with Garanti BBVA

Gedik Yatırım has updated its model portfolio, removing Coca-Cola İçecek (CCOLA) and adding Garanti BBVA (GARAN). This adjustment increases the banking sector's weight in the portfolio from approximately 15% to 25%.

Regarding Coca-Cola İçecek, the firm noted that while the company showed strong second-quarter EBITDA due to international sales and margin expansion, its short-term risk/return profile has become less attractive following significant stock price appreciation. The firm also cited a lack of upward revisions in 2026 expectations and potential margin pressure from higher-cost inventory.

Garanti BBVA was added due to its strong performance, including an estimated 28% return on equity in the first half of 2026. Analysts expect a recovery in net interest margins following anticipated interest rate cuts and a potential one-time net profit contribution of approximately 100 million euros from the sale of its Romanian subsidiary in the fourth quarter.