BASF downgraded at UBS with earnings growth seen slumping next year

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BASF (OTCQX:BASFY) (OTCQX:BFFAF) -1.6% in Monday's trading as UBS downgrades its rating to Neutral from Buy with a €48 price target, down from €51, believing an inflection in earnings growth remains ...

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UBS analyst Geoff Haire flagged concerns over BASF's   earnings outlook for the coming years, particularly in 2025, which is expected to be another difficult year for the chemical giant. Weaker global GDP growth, exacerbated by overcapacity in upstream chemicals and low demand in agricultural markets, likely will hinder BASF's   earnings recovery, Haire says, causing him to revised down his EBITDA forecasts for the company by ~8% annually during 2024-26. 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Weaker global GDP growth, exacerbated by overcapacity in upstream chemicals and low demand in agricultural markets, likely will hinder BASF's (OTCQX:BASFY) (OTCQX:BFFAF) earnings recovery, Haire says, causing him to revised down his EBITDA forecasts for the company by ~8% annually during 2024-26. 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