BASF Stock: Shares Surge Amid Major Legal Battle

BASF's stock demonstrated remarkable momentum, climbing more than 2.5% to reach its highest level this year, bolstered by Bernstein Research's reinforced buy recommendation and an increased price target of 60.00 euros. This upward trajectory represents a significant recovery from its 52-week low of 40.18 euros, with analysts maintaining an average price target of 52.84 euros. The positive market sentiment reflects growing investor confidence in the chemical giant's market position and future prospects.

Legal Challenge Against Competitors

In a significant legal development, BASF has initiated a 1.4 billion euro lawsuit against several competitors, including Swiss-based Clariant, over alleged antitrust violations in the ethylene purchasing market. The legal action stems from a European Commission investigation that previously uncovered a price-fixing cartel, resulting in substantial fines for the involved parties. The lawsuit's announcement has already impacted market dynamics, with BASF's stock continuing its upward trend while affected competitors experience market pressure.