BASF, a chemical giant underwent several changes, experiencing
stock upgrades as chemical spreads improved. Despite a 5.7% loss endured by shareholders over the past five years, the company's stock has been considered
undervalued, prompting Jefferies, a leading financial services company, to upgrade the stock recommendation from 'hold' to 'buy'. This decision was taken partially due to the substantial stake BASF acquired in Harbour Energy. The switch of BASF's portfolio to Bio-based Ethyl Acrylate, a greener alternative, signals a strategic shift in business operation, keeping sustainability in focus. However, on a negative note, their earnings dropped faster than anticipated ahead of the CEO's changeover. An investigation into plastics imports by China and a fire incident at one of BASF's plant in Germany further added to the instability. Nevertheless, the company's attempt to increase production capacity for synthetic ester base stocks in China provides a hint of promise. The stock remains susceptible to volatility but carries potential for possible growth in the long-term, given its robust financials and constant reassessments of its strategies.
BASF Stocks News Analytics from Tue, 20 Oct 2015 07:00:00 GMT to Sat, 14 Sep 2024 06:17:17 GMT -
Rating -1
- Innovation 7
- Information 8
- Rumor -3
