Despite Authoritarian Turn In Turkey, UBS Still Bullish; Other Banks Not So Sure

The failed coup attempt in Turkey, resulting in one of the largest purges in democratic society’s history, has not changed the regional economic outlook to any meaningful degree, a UBS research piece noted. Its still a buy based on valuation among other issues, as the Swiss-based investment bank reiterates its original overweight rating. Other banks are not so certain, taking a more wait and see attitude while recognizing the potential value play. Authoritarianism no concern to UBS, who says Turkey a buy Turkey, a traditionally secular nation amid a majority Islamic population, is a statistical rarity. Turkey has been one of the…