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BASF shares on the road to success: investors optimistic
Find out how BASF shares are gaining momentum in the current stock market upswing and breaking important price limits. Expert opinions and technical analyzes provide insights into the company's financial and market position.
BASF shares on the road to success: investors optimistic
BASF shares continue their strong upward trend, driven by positive signals from the USA and China as well as an increase in the price target by UBS. The current optimistic stock market climate has led to the stock targeting an important price limit.
Amid the positive environment on the German stock market after the Easter weekend, BASF is particularly benefiting from rising investor sentiment. The DAX reached a new record high at the beginning of the trading week, which also further boosted the positive development of BASF shares. UBS increased its price target from 56 to 61 euros and classified the share as “buy”. Analysts expect an improvement in operating profit in the first quarter and an overall positive assessment of rival companies.
Experts predict an acceleration in global economic growth, which further supports the positive mood in the market. BASF's chart shows a clear upward trend, and a rise above the 50 euro mark could trigger another buy signal. The share is one of the winners in the DAX and recently recorded an increase of 1.9 percent to 53.91 euros.
A dividend of 3.35 euros is expected for the current year, slightly below the previous year's figure. Q1 2024 results are highly anticipated after the company reported a loss in the previous quarter. Although BASF faces challenges, the overall outlook for 2024 is optimistic. The analysis is based on the current momentum in the stock market, expert opinions and technical indicators, without drifting into speculation.