According to preliminary annual figures, Baader Bank has left BASF on “Add” with a price target of 53 euros. The chemical company performed even weaker than planned and expected by the market, wrote analyst Konstantin Wiechert in a study available on Friday. He particularly referred to the operating result (EBIT) that was almost halved in the final quarter compared to the previous quarter. In addition, the free cash inflow was disappointing, which at 2.7 billion euros was below the 3.3 billion required for a stable dividend distribution. Wiechert still assumes that 2.7 billion is still good enough to keep the dividend stable this year./gl/ajx
Between price target and reality: The BASF share in detail on the day of the analysis
At 9:33 a.m., BASF shares rose. In the XETRA session, the stock climbed 0.7 percent to EUR 43.99. Because of this, the stock still has a potential price increase of 20.50 percent based on the set price target. The trading volume most recently amounted to 536,786 BASF shares. Since the beginning of 2024, the share has fallen by 9.8 percent. BASF is expected to present the next quarterly figures for Q4 2023 on February 23, 2024.
MUNICH (dpa-AFX Analyzer) / editorial team finanzen.net
Publication of the original study: January 19, 2024 / 08:40 / CET First time distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study
Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 Para. 1 WpHG, Art. 20 Regulation (EU) 596/2014 for the analyst firm mentioned can be found at http://web.dpa-afx.de/offenstellenpflicht/ disclosure_duty.html.
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