Baader's European chemicals picks for H2 as sector faces gradual recovery

Reuters

Baader's European chemicals picks for H2 as sector faces gradual recovery

2024 6월 25 일, 오전 8:36 GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>BUZZ-Baader's European chemicals picks for H2 as sector faces gradual recovery</title></head><body>

** Baader Helvea sees a gradual recovery ahead for the European chemicals sector, and says it favours speciality and special situations chemical companies over diversified ones

** Diversified and higher volume chemical stocks underwent a price correction during Q2, while more specialised chemicals held up well, it says

** It prefers "buy"-rated Clariant CLN.S and KWS Saat KWSG.DE over the medium term, saying their structural portfolio organisation should lead to higher margins and stronger FCF generation

** It upgrades Wacker Chemie WCHG.DE to "buy" from "reduce", citing tailwinds from the Polysilicon and Biosolutions businesses that should boost its earnings in 2025

** It expects Germany's BASF BASFn.DE ("add") to beat Q2 consensus estimates by around 1% and report a Q/Q improvement in cracker margins

** But it's cautious on BASF's mid-term earnings potential, saying global cracker overcapacities will affect its upstream capacity utilisation at least until 2026/27

BAADER'S RATING AND PT CHANGES:

COMPANY	RATING	OLD RATING	PT	OLD PT
BASF	Add	n/a	EUR 50	EUR 53
Fuchs FPEn.DE	Add	n/a	EUR 48	EUR 42
Givaudan GIVN.S	Reduce	n/a	CHF 4,050	CHF 3,950
Wacker Chemie	Buy	Reduce	EUR 122	EUR 109

Reporting by Tristan Veyet

</body></html>

무엇을 도와드릴까요?

라이브 채팅 약관

Baader's European chemicals picks for H2 as sector faces gradual recovery

관련 자산

최신 뉴스

Car explosion injures two PKK members in northern Iraq, police say

RBC gingerly lifts S&P 500 year-end target to 5700

Truleum, Inc. Provides Update On Auditor Status And S-1 Registration Statement

Digihost Announces 18% Month-Over-Month Increase In Cash And Crypto Position

Futures drop as megacaps retreat ahead of key jobs data

XM 실시간 채팅