BASF (ETR:BAS) Receives a Downgrade
Frankfurt-listed BASF (ETR:BAS), was downgraded by analysts at Credit Suisse Group who downgraded their rating on the 70.84B EUR market cap firm to a Underperform, but decided to stick with their TP of EUR 69.00 on BAS shares.
From a total of 17 analysts covering BASF (ETR:BAS) stock, 6 rate it a ”Buy”, 5 a “Sell”, and 6 a ”Hold”. This means that 35% of the ratings are positive. The highest target price is €102 while the lowest target price is €63. The mean of all analyst targets is €80.34 with a 2.19% above today’s (€78.62) stock price. BASF was the topic of 48 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. HSBC upgraded shares on November 26 to “Buy” rating. Baader Wertpapierhandelsbank downgraded shares to “Sell” rating and €63 target share price in a report from an October 28. JP Morgan downgraded BAS stock in a recent report from November 6 to “Underweight” rating. Independent Research maintained the rating on October 28. Independent Research has a “Hold” rating and a €78 price target on shares. Finally, S&P Research downgraded the stock to “Sell” rating in a report issued on an October 28.
The stock increased 0.79% or EUR 0.62 on November 26, striking EUR 78.62. Approximately 1.80 million shares of stock traded hands. BASF SE (ETR:BAS) has declined 52.87% since April 24, 2015 and is downtrending. It has underperformed by 51.51% the S&P500.
Basf SE is a Germany-based chemical company. The company has a market cap of 70.84 billion EUR.
According to Zacks Investment Research, “Basic Energy Services provides a range of services to America’s oil and gas producers. Its operations span the heartland of domestic onshore production from Texas, Oklahoma, Louisiana and New Mexico to the Rocky Mountain states . Its services support the entire life cycle of a well – from drilling to production and finally – abandonment. They are committed to providing a safe and rewarding workplace, giving its customers the value they expect and doing our part to support a strong and viable oil and gas industry.” Get a free copy of the Zacks research report on BASF SE (BAS)