HSBC Gives BASF (ETR:BAS) a Higher Rating. Will Other Analysts Follow Suit?


BASF (ETR:BAS) Stock Upgrade

In a note revealed to investors on Tuesday morning, stock analysts at the HSBC equities research division raised shares of BASF (ETR:BAS) to a respectable “Buy” rating. They now have a PT set at EUR 88.00 on BAS equating to 21.50% more upside.

From a total of 15 analysts covering BASF (ETR:BAS) stock, 7 rate it a ”Buy”, 2 a “Sell”, and 12 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is €12 while the lowest target price is €2. The mean of all analyst targets is €5 with a 10.28% above today’s (€72.69) stock price. BASF was the topic of 49 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Credit Suisse downgraded shares on November 27 to “Underperform” rating. Baader Wertpapierhandelsbank downgraded shares to “Sell” rating and €63 target share price in a report from an October 28. Bernstein upgraded BAS stock in a recent report from November 13 to “Outperform” rating. S&P Research downgraded the rating on October 28. S&P Research has a “Sell” rating and a €65 price target on shares. Finally, Landesbank maintained the stock with “Hold” rating in a report issued on an October 28.

The stock increased 0.46% or EUR 0.33 on December 7, striking EUR 72.69. Approximately 2.52 million shares of stock traded hands. BASF SE (ETR:BAS) has declined 69.42% since May 5, 2015 and is downtrending. It has underperformed by 68.34% the S&P500.

 HSBC Gives BASF (ETR:BAS) a Higher Rating. Will Other Analysts Follow Suit?

The overall sentiment of institutions has increased to 1.22 in Q2 2015. Its up 0.12, from 1.1 in 2015Q2. The ratio increased, as 31 institutions have sold all the shares of BASF SE that they owned while 29 funds have taken shares off the table. 14 funds have purchased shares for the first time while 59 added to their positions. These institutions now hold 47.01 million shares or 15.59% more than the 40.67 million shares they owned in 2015Q2.

The Fund Fine Capital Partners L.P. currently is holding shares equating to 1.37% of its total portfolio in BASF SE representing a total of 4.24 million shares. Another fund,Tph Asset Management Llc, is holding a total of 2.89 million shares equating to 1.33% of their holdings. Additionally, Alphamark Advisors Llc has a 519,264 share stake in BASF SE which represents 0.95% of their total portfolio. The Fund, Lucus Advisors Llc, based out of New York, has also built up a stake in the stock, which represents a total of 0.19% of their total portfolio. Finally Wall Street Associates, a fund which is based in the state of California reported a total holdings of 244,976 shares.

Basf SE is a Germany-based chemical company. The company has a market cap of 66.76 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).