JPMorgan analyst Chetan Udeshi downgraded BASF (BASFY) to Underweight from Neutral with a price target of EUR 45, down from EUR 52. The recent weaker macro data points in the U.S. and the elevated uncertainty on the potential impact from trade tariffs means that the near-term earnings outlook for the European chemicals sector “has become cloudier,” the analyst tells investors in a research note.
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Read More on BASFY:
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- BASF downgraded to Reduce from Buy at Baader Helvea
- BASF price target raised to EUR 60 from EUR 55 at Deutsche Bank
- BASF SE Earnings Call: Strong Core Performance Amid Challenges
- BASF SE Reports Strong Net Income Growth in 2024
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