BASF Stock: Shares Rise Amid Positive Growth Outlook

BASF's stock demonstrated strong market performance today, climbing 1.84 percent to reach €43.20 on the XETRA exchange. The trading session, which opened at €42.72, saw the stock touch a daily high of €43.33, with robust investor interest reflected in a trading volume exceeding 760,000 shares. This upward momentum is particularly noteworthy given the company's significant financial turnaround, with third-quarter 2024 earnings per share reaching €0.32, marking a substantial improvement from the previous year's negative figure of -€0.28.

Analyst Projections Signal Further Growth

Market analysts maintain an optimistic outlook for BASF's future performance, setting an average price target of €51.67 per share. This projection suggests considerable upside potential from current levels, supported by positive earnings forecasts of €3.37 per share for the full year 2024. The company's commitment to enhancing competitiveness through a comprehensive cost-reduction program, targeting €1 billion in savings by the end of 2026, has further reinforced analyst confidence, with some experts raising their price targets to €55 while maintaining buy recommendations.