BASF SE, a major player in the chemical sector, has had a tumultuous journey over the past few years, with stocks losing 14% and 15% in five and three years, respectively. Even as
Goldman Sachs and
Deutsche Bank upgraded the stock and raised its price target, Q2 profits declined due to higher input costs. Financials remained weak even amid stock price increase, leading to fears among shareholders.
Despite these troubles, the stock has been accounted for conservatively, and it has earned positive reviews from some analysts. Some outlets speculated that it was time to put BASF on the watchlist, while others questioned if the worst for the company was over.
The company also made several strategic moves. It was awarded the
ISCC PLUS certification and decided to cut dividends for the next four years amidst a structural overhaul, leading to a drop in share prices. It also enhanced its Neopor Production Capacity but had difficulty utilizing capital effectively.
On a positive note, BASF was upgraded by Jefferies after chemical spreads improved, and reaffirmed its guidance for 2024. Following a reported plan for the IPO of its agricultural business, the share prices rose.
BASF Stocks News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Mon, 02 Dec 2024 09:44:08 GMT -
Rating -5
- Innovation -3
- Information +4
- Rumor -3
