TUPRAS REFINING MARGINS (TACIRLER YATIRIM ) TUPRAS ANNOUNCED ITS PRODUCT MARGINS FOR MARCH. ACCORDINGLY, WITHIN MIDDLE DISTILLATES, THE DIESEL MARGIN DECLINED BY 21% MOM TO $15.5/BBL, WHILE THE JET FUEL MARGIN FELL BY 13% MOM TO $13.8/BBL. AMONG LIGHT DISTILLATES, THE GASOLINE MARGIN DROPPED BY 19% MOM TO $11.7/BBL, AND THE FUEL OIL MARGIN WAS RECORDED AT NEGATIVE $6.4/BBL. ALL PRODUCT MARGINS DECREASED ON A MONTHLY BASIS, AND EXCEPT FOR FUEL OIL, MARGINS CAME IN BELOW THEIR 5-YEAR AVERAGES. DUE TO A HIGH BASE, DIESEL, JET FUEL, AND GASOLINE MARGINS CONTRACTED ON A YEARLY BASIS, WHILE THE FUEL OIL MARGIN IMPROVED YOY. GIVEN THE MONTHLY DECLINES, WE CONSIDER THE DATA AS SLIGHTLY NEGATIVE. WE HAVE A BUY RECOMMENDATION FOR TUPRAS WITH A TARGET PRICE OF TL 208.10. TACIRLER YATIRIM MENKUL DEGERLER A.S. WWW.TACIRLER.COM.TR *** YASAL UYARI BURADA YER ALAN YATIRIM BILGI, YORUM VE TAVSIYELER YATIRIM DANISMANLIGI KAPSAMINDA DEGILDIR.YATIRIM DANISMANLIGI HIZMETI ; ARACI KURUMLAR, PORTFOY YONETIM SIRKETLERI, MEVDUAT KABUL ETMEYEN BANKALAR ILE MUSTERI ARASINDA IMZALANACAK YATIRIM DANISMANLIGI SOZLESMESI CERCEVESINDE SUNULMAKTADIR.BURADA YER ALAN YORUM VE TAVSIYELER, YORUM VE TAVSIYEDE BULUNANLARIN KISISEL GORUSLERINE DAYANMAKTADIR.BU GORUSLER MALI DURUMUNUZ ILE RISK VE GETIRI TERCIHLERINIZE UYGUN OLMAYABILIR.BU NEDENLE, SADECE BURADA YER ALAN BILGILERE DAYANILARAK YATIRIM KARARI VERILMESI BEKLENTILERINIZE UYGUN SONUCLAR DOGURMAYABILIR. 02.04.2025 18:10:59