BASF : Stifel raises price target
The broker forecasts below-consensus adjusted EBIT for the fourth quarter, and points out that the 2023 full-year forecast of €3.85 billion compares with a low end of the target range of €4 billion.
'The potential for earnings growth in 2024 is limited, in our view. This is particularly true for upstream activities, which are starting out with a low margin run-rate", adds Stifel.
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