NEW YORK (dpa-AFX Broker) - U.S. bank JPMorgan left its rating on BASF at "Overweight" with a price target of 55 euros. Analyst Chetan Udeshi addressed the earnings sensitivity of European chemical companies in the context of the recent significant drop in energy prices in an industry report available Friday. Because of the current weakness in demand and some energy cost surcharges that have been introduced in the past 18 months, most companies are likely to pass on most, if not all, of the potential cost savings to their customers, he wrote. BASF, Lanxess and Covestro may benefit from lower energy prices sooner because they have not hedged their energy costs./edh/la

Publication of the original study: 05.01.2023 / 21:36 / GMT

First disclosure of the original study: 06.01.2023 / 00:15 / GMT

-----------------------

dpa-AFX Broker - Trader News from dpa-AFX

-----------------------