Global Menkul highlights Aksa Enerji stock on USD 841 million EBITDA target

Published on 10/14/2026 at 04:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Aksa Enerji's first-half 2026 EBITDA reached TRY 7.3 billion with a 36.00 percent margin. Aksa Enerji stock targets 6,200 MW.

Growth targets and first-half results

Aksa Enerji targets USD 841 million EBITDA by 2029, according to a September analyst review.
First-half 2026 EBITDA reached TRY 7.3 billion at a 36.00 percent margin.
The company invested USD 1.7 billion during 2024-2026 across 15 projects.

Aksa Enerji, TREAKEN00011, Illustration mit AI erstellt.

Global Menkul highlighted Aksa Enerji stock after the company set a 2029 target of USD 841.00 million in EBITDA at its September 29, 2026 analyst meeting. The target sits alongside plans to expand installed capacity from 3,700 MW to 6,200 MW, giving the investment program a clear operating scale.

Analyst targets point to expansion

According to TradingView on September 30, 2026, Global Menkul said the meeting supported its investment thesis. The note cited EBITDA targets of USD 664.00 million for 2028 and USD 841.00 million for 2029, with EBITDA margins of 41.00 percent and 42.00 percent respectively.

The same review put September 2026 installed capacity at 3,675 MW and the 2029 goal at 6,178 MW, a planned increase of 68.00 percent. It also outlined a decline in the net debt to EBITDA ratio from 4.30 in 2026 to 1.70 in 2029, linking the capacity buildout to a lower leverage objective.

What does the investment cycle deliver?

Haberturk reported on October 1, 2026 that Aksa Enerji had completed USD 1.7 billion of investment during 2024-2026 across 15 projects. The program includes eight thermal projects and seven storage-linked renewable projects, while the company plans a further 2,500 MW of capacity additions.

For the first half of 2026, the company reported revenue of approximately TRY 20.0 billion, EBITDA of TRY 7.3 billion and net income of TRY 1.2 billion, with an EBITDA margin of 36.00 percent, according to Haberturk. The margin target for 2029 is 42.00 percent, 6.00 percentage points above the first-half 2026 level.

Three dated milestones shape the plan

On August 13, 2026, Aksa Energy listed its first-half 2026 financial statements, which later showed TRY 7.3 billion in EBITDA. On September 29, 2026, the analyst meeting presented the USD 841.00 million 2029 EBITDA target. On October 1, 2026, the investment report put the company's planned portfolio at 2,500 MW of additional capacity.

Trading context for Aksa Enerji

Aksa Enerji Uretim A.S. is listed on Borsa Istanbul under ticker AKSEN and operates as an independent power producer. Its portfolio spans Turkey and African markets, with eight power stations and installed capacity reported at 1,966 MW in the company profile.

Market context: Market report BIST 100.