BASF: Credit Suisse not throwing in the towel
(CercleFinance.com) - Credit Suisse has gone back to the drawing board regarding BASF, after the German chemicals giant yesterday launched a profit warning.
Although the target price has been reduced from 78 to 67 euros, the 'buy' ('outperform') recommendation remains in place.
After this warning, analysts reduced their operating profit forecasts between 2019 and 2021 by approximately 21%, hence the target price reduction. The support offered by the dividend remains though.
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