NEW YORK (dpa-AFX Broker) - The US analyst firm Bernstein Research has downgraded BASF from "Market-Perform" to "Underperform" and lowered the price target from 45 to 39 euros. Even if some investors are already looking at BASF again in view of possibly soon falling key interest rates and a possible soft landing of the economy, it is not the right time for this, analyst Gunther Zechmann wrote in a study published on Tuesday. There are plenty of other investment opportunities with regard to these topics, also in the chemical sector. In view of the developments at BASF, the shares appear to be overvalued. Although the company is making progress in a difficult environment, the market expectations for 2024 are too high. And: Even in the scenario of an industry recovery, BASF could lag behind./mis/bek

Publication of the original study: 08/01/2024 / 15:51 / UTC

First dissemination of the original study: 09/01/2024 / 05:06 / UTC

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