3. TAV Havalimanlari Holding AS (OTC:TAVHF)
Average Price Target Upside Potential According to Analysts: 31.03%
Average Share Price Target Projected by Analysts: $10.26
TAV Havalimanlari Holding AS (OTC:TAVHF) is a leading airport operator based in Turkey. The company manages a portfolio of 15 airports across eight countries, including major hubs. The company provides a wide range of services, such as airport operations, ground handling, private security, retail, duty-free shopping, food and beverage, car parking, and bus services.
The company’s growth potential comes from its active expansion and modernization efforts, combined with a strong focus on sustainability and innovative solutions. One of TAV’s recent key achievements was the opening of the new international terminal at Almaty Airport in Kazakhstan on June 1, 2024. The terminal increases the airport’s annual passenger capacity to more than 14 million. The new terminal utilizes the latest technology and features a range of world-class services to enhance operational efficiency and passenger experience, while also being certified under the IFC’s Excellence in Design for Greater Efficiencies (EDGE) program for its environmentally friendly design.
In the first half of 2024, TAV Havalimanlari Holding AS (OTC:TAVHF) served 46 million passengers, a 17% increase compared to the same period in 2023. International traffic grew by 20%, contributing to the group’s strong financial performance. Revenue increased by 31% year-over-year to reach EUR 732 million, while net income reached EUR 81 million. CEO Serkan Kaptan highlighted that the net income for the first half of 2024 was only 13% lower than the record high achieved in 2018. This performance indicates that the investments made by TAV Havalimanlari Holding AS (OTC:TAVHF) over the past three years are starting to pay off.
The company is also making steady progress on its investment projects in Antalya and Ankara. The Antalya International Airport expansion project is 84% complete and expected to open in Q1 2025, while the Ankara airport development project is 58% finished and expected to be completed in Q4 2025. Antalya and Ankara airports have seen strong international passenger growth of 14% and 30%, respectively. The timely completion of these projects will help accommodate the rising demand for air travel in these regions.
TAV Havalimanlari Holding AS (OTC:TAVHF) has improved its earnings as a result of robust financial performance. The company’s EBITDA grew by 47% year-over-year, reaching EUR 215.4 million during the first half of 2024.
According to TAV Havalimanlari Holding AS (OTC:TAVHF) guidance for the full year 2024, the company expects revenue to fall within the range of EUR 1.50 – 1.57 billion, while EBITDA is projected to reach between EUR 430 – 490 million.
TAV Havalimanlari Holding AS (OTC:TAVHF) is one of the best airport stocks to buy according to analysts. 4 analysts have a buy rating on the stock. The median 12-month stock price target set by analysts for TAVHF is $10.26, which indicates a potential upside of 31.03% from current levels.
