BASF: Credit Suisse still a buyer

(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on BASF shares, along with its target price of 80 euros, while raising its EBIT estimates by an average of 7% over 2021-23, the day after the German chemical company's quarterly publication.


"Given spreads remain robust and demand is currently showing limited signs of weakness outside of automotive, this suggests BASF FY21 earnings risk is still skewed to the upside even after the upgraded guidance," the broker said.

The share is currently down over 1% at just under 63 euros, underperfing a German market that is almost keeping afloat.



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