TAV Airports (TAVHL) 3Q26 Financial Results
Tacirler Investment
We view TAV Airports’ 3Q26 financial results as broadly positive, supported by an improvement in the EBITDA margin and stronger-than-expected net profit. On the other hand, revenue growth falling slightly short of our expectations and the company maintaining its cautious year-end guidance somewhat temper the positive impact of the strong profitability. Based on our updated estimates, we maintain our 12-month target price of TRY 430 per share and our BUY recommendation for TAV Airports