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BASF: UBS stays on 'sell' after restructures

( - UBS reiterates its 'sell' recommendation for BASF as well as maintaining its 37-euro target price, implying downside of 11% for the share of the German chemicals giant.

“Restructuring for the medium and long term will be announced in 1Q23. BASF already in loss in Germany, albeit group EBIT slightly ahead of cons for 3Q22”, highlights the broker in its note.

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