Sasol downgraded to Neutral from Buy at BofA

BofA downgraded Sasol (SSL) to Neutral from Buy with a price target of ZAR 105, down from ZAR 197. Sasol recently cut its FY25 production guidance and the firm believes a sustained meaningful recovery is not imminent at this point, adding that a first half dividend is “unlikely.” The firm cut its FY25-27 EBITDA estimate by 23%, the analyst noted.