Berenberg announced on Wednesday that it had upgraded its recommendation on BASF shares from 'hold' to 'buy', and raised its target price from €50 to €58.

After a fiscal year 2023 marked by false promises of a turnaround in the industrial sector, the analyst believes that indications continue to point in the direction of a forthcoming business recovery.

From his point of view, this is "now or never" a good time to buy the stock of Europe's leading chemicals group, as a feverish dawn looms in the wake of what has been, in his opinion, the worst crisis in the European chemicals sector for several decades.

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