Sasol downgraded to Neutral from Buy at UBS

UBS downgraded Sasol (SSL) to Neutral from Buy with a price target of ZAR 15,500, up from ZAR 14,500. Sasol’s 1H26 results reinforce that the operational self-help story is progressing as planned, with benefits from fixed-cost discipline, while management remains focused on controllable levers, which are translating into more resilient underlying performance, the analyst tells investors in a research note. However, the share price is up about 140% from its 12M lows and the oil price already reflects the escalating conflict in the Middle East, the firm says.