BASF : Berenberg downgrades to 'hold

(CercleFinance.com) - Berenberg announced on Tuesday that it had downgraded its recommendation on BASF from 'buy' to 'hold', with a target price of 52 euros compared with 50 previously.


In a research note, the analyst explains that he has withdrawn his buy recommendation on the stock after the 22% rebound from its January lows.

The financial intermediary recalls that he remained a buy on the stock last year despite dashed hopes of a recovery in the chemicals market.

The professional recalls that his buy recommendation was motivated by the prospect of asset disposals under favorable conditions and a drop in natural gas prices.

More recently, Berenberg recalls that the stock was buoyed by hopes of a resolution to the Russian-Ukrainian conflict, support measures from the German government and a recovery in the Chinese economy.

Copyright (c) 2025 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.