BASF SE has been the centre of the biotech market recently with various updates. The company has added sustainable personal care solutions to its portfolio. Despite experiencing a dip due to impairments affecting earnings, its stock still receives a new buy rating. News of its stock passing above the 200-day moving average hints at positive momentum. Recently, the stock has seen an impressive 10.9% jump, leaving investors optimistic.
The company also launched the first plant for recycled polyamide 6 production, demonstrating its commitment to sustainability. Surprisingly, BASF SE (OTCMKTS:BASFY) sees growth in short interest. The company also partners with Forestal on advanced E-methanol production and introduced the world's first biomass-based polyethersulfone.
On the financial front, BASF lowered its earnings expectations and reduced dividends to €2.25. It cut stock rating to hold and proposed a dividend cut for the next four years. Despite these measures, BASF did secure a $1.15 billion deal with Sherwin-Williams in Brazil and is enhancing production in China to meet automotive demands.
Moreover, they're planning to list their agricultural chemicals unit either in the US or Germany. Finally, they invited banks to advise on the agrichemical unit's potential IPO.
BASF Stocks News Analytics from Tue, 04 Jun 2024 07:00:00 GMT to Fri, 04 Apr 2025 14:04:00 GMT -
Rating 0
- Innovation 4
- Information 6
- Rumor -3
