Turkish Wireless Play Turkcell
Cramer was out with bullish comments on Turkcell (TKC), the largest wireless carrier in Turkey. The company currently has a 58% market share in Turkey and Cramer says Turkcell is expanding into neighboring, less-penetrated countries, that offer high growth opportunities. TKC recently reported a better-than-expected quarter, beating estimates by 8 cents a share. Turkcell was helped by a weak U.S. dollar and reported profits up 44% on a 50% increase in revenues. Cramer says Turkcell is a buy both because of its growth as well as the fact that it is not constrained by the U.S. economic slowdown. Cramer said buy TKC when it dips under $24.
Leave a Response
