Ford Otosan (FROTO) 3Q25 Financial Results
Tacirler Investment
Ford Otosan’s 3Q25 financial results are assessed as slightly negative, as operating margins remained under pressure despite the company’s net profitability coming in above expectations. We believe that ongoing electrification investments and new-generation commercial vehicle projects will continue to contribute positively in the upcoming periods. We maintain our 12-month target price of TL135 per share and “BUY” recommendation for Ford Otosan, as we view the company’s long-term transformation process to be firmly on track.