BASF climbed on the Frankfurt Stock Exchange on Wednesday, following a recommendation upgrade by Berenberg, who upgraded its position to "buy".

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, it's "now or never" to buy BASF again, as a feverish dawn looms in the wake of what has been, in his view, the worst crisis in the European chemicals sector for several decades.

The intermediary has therefore upgraded its rating on the stock from 'hold' to 'buy', and raised its target price from €50 to €58.

BASF shares are currently up 1.8%, the biggest gain on the DAX index, which is hovering around equilibrium.

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