BASF's Evonik Stance Hardens as Analysts Tweak Targets and Buyback Rolls On
Published on 11/08/2026 at 06:02 | Editorial boerse-global.de
BASF shares gave up 2.9% on Friday, caught in a broad retreat that swept German equities as investors dumped AI and semiconductor names worldwide. The drop had nothing to do with fresh news from the chemicals giant itself — dpa-AFX attributed the pressure to cross-sector selling triggered by doubts over the pace of future AI investment, and BASF had already been among Europe's weakest chemical stocks in morning trading, according to media reports.
Evonik Shuts the Door Again
Away from the tape, interim Evonik chief Claus Rettig used an interview with the FAZ on Thursday to restate his company's rejection of BASF's takeover approach, insisting Evonik intends to stay independent. The supervisory board had already resolved on 30 October not to enter negotiations over a voluntary public takeover offer, though Evonik remains open to a confidential exchange of information with no negotiating mandate.
Lanxess CEO Matthias Zachert framed BASF's move on Evonik as a symptom of the sector's troubles. Reuters reported on Thursday that the European chemicals industry is grappling with persistently weak demand, steep energy costs and mounting regulatory pressure.
Should investors sell immediately? Or is it worth buying BASF?
LBBW Trims Its Enthusiasm to a Nudge
Analysts, meanwhile, are making only small adjustments. LBBW lifted its price target for BASF on Wednesday to EUR 57 from EUR 56 while keeping its "Hold" rating — a tweak that leaves the brokerage's overall view of the stock intact.
Guidance Raised After a Strong Third Quarter
The operating picture is brighter than the share price suggests. BASF reported third-quarter 2026 sales of EUR 16.4 billion on 28 October, up 14% year on year, with EBITDA before special items climbing 15% to EUR 1.6 billion. Management credited higher prices, which rose 12%, while volumes added 2%. The company also raised its full-year guidance, now targeting EBITDA before special items of EUR 7.4 billion to EUR 7.8 billion.
Buyback Keeps Rolling
Capital returns continue in parallel. Between 26 and 30 October inclusive, BASF repurchased roughly 355,000 of its own shares. Since the programme began on 3 August, buybacks had reached about 7.6 million shares through 30 October.
Award Season in Detroit
There was recognition on the product side too. BASF, Stellantis and L&L Products won the SPE Automotive Innovation Award in the Chassis/Hardware category for a composite tunnel reinforcement used in the 2027 model-year Jeep Grand Cherokee. A joint entry with Ford and Supavut Thailand took the Materials category for door-handle bezels on the 2026 Ford Everest. BASF, Toyota and Vuteq claimed the SPE Automotive Innovation Grand Award — and the Body Exterior prize — for the thermoplastic truck bed of the 2026 Toyota Tacoma.
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BASF Stock: New Analysis - 8 November
Fresh BASF information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
