(CercleFinance.com) – BASF climbs this Wednesday on the Frankfurt Stock Exchange following an increase in Berenberg’s recommendation to buy the stock of the leading European chemicals group.
After a 2023 financial year marked, according to him, by false promises of a recovery in the industrial sector, the analyst believes that the indications continue to point in the direction of an upcoming recovery in activity.
From his point of view, it is therefore the ‘time or never’ to return to purchasing BASF, while a feverish dawn is looming following what was, according to him, the worst crisis in the European sector of chemistry for several decades.
The intermediary thus goes from ‘hold’ to ‘buy’ on the stock and raises its price target from 50 to 58 euros.
BASF shares are currently up 1.8%, the largest increase in a DAX index which is moving around equilibrium.
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