German chemical giant BASF (OTCMKTS:BASFY) has encountered a series of ups and downs. Although the company's stock reached a new 1-year low, analysts from Stifel and Jefferies have confirmed their recommendation and upgraded the stock to 'Buy' respectively. Despite a slump in shares by 26% for BASF India Limited (NSE:BASF), its stocks are still considered not cheap enough for entry.
BASF has lowered its earnings expectations despite growth, is due to cut dividends for the next four years, and will shed non-core assets as part of an overhaul. The company targets a partial listing of its agriculture division, and a report from Bloomberg suggests potential preparation for an IPO for this business. Additionally, the chemical group plans to take its agricultural business public.
Notably, BASF switched its portfolio to bio-based Ethyl Acrylate and invested to increase the production capacity of Neopor at its Ludwigshafen site, underlining the company's focus on sustainable solutions. Furthermore, BASF has divested its bioenergy enzymes business to Lallemand and oil and gas activities.
BASF Stocks News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Sat, 23 Nov 2024 23:57:22 GMT - Rating -4 - Innovation 4 - Information 7 - Rumor -8