BASF's Q3 Results to Test Resilience Amid Market Challenges and Analyst Skepticism
BASF, the world's largest chemical producer, faces a challenging stock market today. In July 2024, Carlyle acquired a majority stake in its coatings business due to industry restructuring. The company's upcoming quarterly figures on October 22 will be crucial in assessing its resilience.
BASF's stock has faced criticism from analysts. Berenberg recently downgraded it to 'Sell' due to weak demand in core markets and margin pressure. Warburg Research also lowered its price target, citing a still difficult economic environment. Despite recent operational successes like expanding its sustainable polyamide portfolio in North America and receiving approval for the fungicide ZorinaTM in the US, analysts' concerns about BASF's fundamentals persist. Currently, BASF's stock is considered strongly oversold, with an RSI of 26.0.
BASF's upcoming quarterly figures will provide insight into its ability to navigate the tough stock market. Despite recent operational achievements, analysts remain cautious, with stock downgrades and price target reductions reflecting their concerns.
