BASF: UBS reduces target price

(CercleFinance.com) - UBS maintains its 'buy' recommendation on BASF shares, although has reduced its target price for them from E58 to E51, with its new TP still representing 17% upside potential for the stock, following the German chemical company's quarterly publication last Friday.


The broker reduces its volume growth forecast for H2 2024 from 5.7% to 1.5%, which is 3% below the lower limit of EBITDA targets for the current year, although believes that this is already priced in.


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