BASF upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded BASF (BASFY) to Buy from Hold with a price target of EUR 55, up from EUR 45. The firm adjusted ratings in the European chemicals and ingredients group. While the situation in the Middle East “could change rapidly, for the better or the worse, we view a swift normalization as improbable,” the analyst tells investors in a research note. Deutsche expects the conflict will have relatively long-lasting consequences for European chemical companies, both negative and positive.