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BASFY.PK

ISIN: US0552625057
SEDOL: 2082965

Rating:

SELL

Target Price:

32.26 USD

Investment Horizon:

6 to 12 months
20th Jan 2009 View Report   Download

Company News Alert

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On 19 January 2009, BASF SE (BASF) revealed a significant decline in its December sales and expects demand to continue to slide during January 2009. As a result, Management announced its decision to close production sites in Asia and America as well as pursue job cuts in Europe. As we are likely to reduce our earnings estimates and target price in our next update report, we downgrade the common stock from a BUY to a HOLD although current price…

11th Dec 2008 View Report   Download

3Q 08 Update Report

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BASF SE (BASF) reported healthy y-o-y growth in revenues as the company increased its prices to compensate for rising input costs. However, this was unable to offset the impact of rising input costs, causing margins to decline during the period. Slowing chemical demand from global construction, automotive and textiles industries has had a significant impact on chemical prices during 2H 08. Falling prices are likely to continue…

20th Nov 2008 View Report   Download

Company News Alert

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On 19 November 2008, BASF SE (BASF) announced the temporary shutdown of approximately 80 plants given slowing chemical demand. In addition, the company reduced its earning guidance for FY 2008. Although we are likely to reduce our earnings estimates and target price in our next update report, given the recent decline in stock price, we believe the stock is fundamentally undervalued and therefore reiterate the common stock a BUY....

30th Oct 2008 View Report   Download

3Q 08 News Alert

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BASF SE (BASF) announced its 3Q 08 results on 30 October 2008. While revenues were marginally above consensus estimates, profitability fell marginally short of expectations. We are likely to lower our earnings estimates and target price in our next update report to account for conditions in US and European economies as well as slowing commodity (primarily crude oil) prices. Nevertheless, given the recent decline in stock price, we see…

15th Sep 2008 View Report   Download

Company News Alert

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On 15 September 2008, BASF SE (BASF) announced that it will acquire Ciba Holdings AG (Ciba) for CHF6.1 bn in order to strengthen its product portfolio of specialty chemicals, primarily plastics, coating and paper. Successful completion of the acquisition will cause us to revise our estimates upwards in our next update report. Therefore, we reiterate the common stock a BUY until we reassess it in our next update report....