BASF: Stifel 'optimistic' - raises TP

(CercleFinance.com) - Stifel maintains its Buy rating on BASF shares, with a target price raised from E56 to E58, based on higher assumptions for cash and value generation for the 'Coatings' division.


Our constructive view is based on improved prospects for shareholder returns in 2026-28, based on the recovery of earnings in the core businesses and the monetization of the value of stand-alone assets, the analyst adds.

Stifel even estimates that by 2028, the share price will recover to E78-E85, and accumulated FCF will reach E15bn-E18bn for shareholder return.

We see the next few years as one of the most exciting periods for shareholders. The new German government's resolve to return to stable growth by improving competitive conditions and investing in infrastructure only adds to our (rare) optimism, the broker concludes.


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