BASF SE, amid a European stock rally, has confirmed its 2028 financial targets and is considering an early initiation of its €4 billion share buyback program. The prospects appeal to investors as BASF's shares surge despite an 82% drop in Q2 profit. BASF anticipates further growth in the automotive, electronics, and battery coatings markets indicating a positive outlook. However, a warning was issued because of its weak financial prospects, and JP Morgan cut the company's stock rating and price target. Moreover, a 10-year natural gas supply agreement was signed with Equinor, and BASF aims to support Australia's mining industry. Despite declining net income, BASF was high on innovation with advances like the next-gen Keropur gasoline additive series and cadmium-free Quantum Dot Display Technology. Changes were reported in personnel, including Heather Remley's appointment as President and CEO of BASF Corporation.
BASF considers early share buyback amid business strategy shift, confirmed by the possible earlier start of the share buyback. Despite the start of commercial operations for a Black Mass Plant in Germany, BASF is facing tough competition affecting prices. Nevertheless, based on a number of catalysts, Morgan Stanley lifted BASF's rating.
BASF Stocks News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Fri, 03 Oct 2025 20:04:57 GMT -
Rating 8
- Innovation 6
- Information 7
- Rumor 2
