BASF upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded BASF (BASFY) to Buy from Neutral with a price target of EUR 53, up from EUR 45. Following 32 months of negative consensus revisions, a trough should be reached in fiscal 2024, the analyst tells investors in a research note. The firm expects BASF share to re-rate “into a last downgrade as a combination of micro and macro factors align more positively.”