BASF gained a little over 1% in Frankfurt this morning, as UBS maintained its 'buy' recommendation on the stock and raised its target price from €56 to €61, a new target that offers 15% upside potential for the German chemical giant's shares.

The broker expects first-quarter results to show clear signs of improving demand, with spot spreads expected to be favorable from the second quarter onwards, and remains 9% above consensus for 2024 EBITDA.


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