BofA downgraded Sasol (SSL) to Neutral from Buy with a price target of ZAR 105, down from ZAR 197. Sasol recently cut its FY25 production guidance and the firm believes a sustained meaningful recovery is not imminent at this point, adding that a first half dividend is “unlikely.” The firm cut its FY25-27 EBITDA estimate by 23%, the analyst noted.
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