ASELSAN (ASELS) 1Q26 Financial Results
Tacirler Investment
We evaluate ASELSAN’s 1Q26 financial results as neutral overall, with strong annual operational performance in line with our expectations and net income slightly above our estimate driven by one-off effects. We raise our 12-month target price to TL 452 from TL 420, while revising our recommendation to Hold from Buy due to the limited upside potential implied by the current target price.