(CercleFinance.com) – BASF gains a little more than 1% in Frankfurt while UBS indicated this morning that it is maintaining its ‘buy’ recommendation on the stock with a price target raised from 56 to 61 euros, a new target which contains 15% upside potential for the stock of the German chemical giant.
The broker expects first quarter results to show clear signs of improving demand, with spot spreads expected to be favorable from the second quarter, and remains 9% above consensus for EBITDA of 2024.
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