Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) shares shot up 2.3% on Friday . The company traded as high as $8.76 and last traded at $8.61, with a volume of 515,409 shares traded. The stock had previously closed at $8.42.

A number of brokerages have weighed in on TKC. Zacks Investment Research downgraded shares of Turkcell Iletisim Hizmetleri A.S. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 20th. JPMorgan Chase & Co. downgraded shares of Turkcell Iletisim Hizmetleri A.S. from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 6th.

The firm has a 50-day moving average of $9.05 and a 200-day moving average of $9.37. The company’s market capitalization is $7.56 billion.

A hedge fund recently raised its stake in Turkcell Iletisim Hizmetleri A.S. stock. Morgan Stanley increased its stake in Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,926,388 shares of the company’s stock after buying an additional 312,562 shares during the period. Morgan Stanley owned 0.33% of Turkcell Iletisim Hizmetleri A.S. worth $24,845,000 at the end of the most recent quarter.

Turkcell Iletisim Hizmetleri AS is a converged communication and technology services provider in Turkey. It is engaged in establishing and operating a Global System for Mobile Communications (GSM) network in Turkey and regional states. The Company comprises the following main reportable segments: Turkcell, Euroasia, Belarusian Telecom all of which are GSM operator in their countries and Turkcell Superonline which provides fixed broadband services.

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