BASF Stock: Shares Dip Despite Positive Earnings Outlook

BASF's stock experienced a notable decline in XETRA trading, settling at €44.94, marking a 0.4% decrease from its opening price of €44.70. Trading activity was substantial, with over 1.2 million shares changing hands throughout the session. The stock's current position reflects a significant gap from its 52-week high of €54.93, trading approximately 22% below this peak. Despite the day's downward movement, the company's recent financial performance shows promise, with earnings per share reaching €0.32 in the latest quarter, a marked improvement from the previous year's loss of €0.28 per share. Revenue remained steady at €15.74 billion.

Market Outlook

Analysts maintain an optimistic stance on BASF's future prospects, with consensus projections setting a target price of €52.40, suggesting considerable upside potential from current levels. The chemical giant's earnings forecast for 2024 stands at €3.45 per share, indicating anticipated growth in the coming year. Market watchers are particularly focused on the upcoming fourth-quarter results presentation, scheduled for late February 2025, which could provide crucial insights into the company's trajectory.