UBS has reaffirmed its 'buy' recommendation on BASF, with its price target raised from €55 to €59, a new target that offers potential upside of 24% for the German chemicals giant's stock.

'BASF is attracting investor interest, but pushback persists', notes UBS, which forecasts fourth-quarter operating profit (EBIT) 5% above consensus. It is unlikely that the new CEO will change strategy", the broker believes.

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