ASELSAN (ASELS) 3Q26 Financial Results
Tacirler Investment
We view ASELSAN's 3Q26 financial results positively, driven by stronger-than-expected net profit and robust operational performance. Based on the increasing backlog and our updated financial forecasts, we raise our 12-month target price from TL452 to TL480 per share. However, as the expected upside potential is broadly in line with our index return expectations, we maintain our HOLD recommendation.