BASF Trims Portfolio in Chile as Analysts Nudge Price Target Higher

BASF closed out the trading week with a divestment, agreeing on Friday to sell its Palatal business in Chile to ALTA Performance Materials. The Ludwigshafen-based chemicals group did not attach a figure to the deal, which media reports said covers its local operations there. Shares finished the session at €53.98, down 2.9%.

That decline had little to do with the Chilean transaction. A broad selloff swept European equities that day as investors reassessed the outlook for AI-related stocks, with Reuters describing a wide-ranging retreat across the continent. BASF had already been among the weakest names in European chemicals during morning trading, according to dpa-AFX, which attributed the pressure to cross-sector selling rather than any fresh operational news from the company.

Guidance Raised, Quarterly Sales Up 14%

The market backdrop contrasts with a stronger operating picture. Roughly two weeks ago BASF lifted its forecast for full-year 2026 EBITDA before special items to a range of €7.4bn to €7.8bn. Third-quarter figures, published on 28 October, showed sales of €16.4bn — a 14% increase on the prior-year period — and EBITDA before special items of €1.6bn, up 15%.

LBBW Lifts Target to €57, Keeps Hold Rating

Analysts have been adjusting their models accordingly. On Wednesday, LBBW raised its price target on BASF from €56 to €57 while reaffirming its "Hold" rating on the stock.

Buyback Continues, Nanjing Site Agreed

Capital returns are running in parallel with the portfolio work. Under its share buyback programme, BASF repurchased about 355,000 of its own shares in the period from 26 to 30 October, as disclosed in the mandatory notification dated 2 November. On the investment side, the group signed an agreement on Tuesday with the administration of the Nanjing Jiangbei New Area in China covering a new production site for electronic materials in Nanjing.

Evonik Rebuffs Improved Offer

Not every initiative has advanced. Evonik rejected BASF's improved takeover offer on 30 October and decided against entering negotiations, leaving that particular hurdle in place.

Automotive Plastics Garner Three SPE Awards

Product development, meanwhile, drew recognition on Thursday, when several jointly engineered automotive applications picked up SPE Automotive Innovation Awards. BASF, Stellantis and L&L Products won in the Chassis/Hardware category for a composite tunnel reinforcement used in the model-year 2027 Jeep Grand Cherokee. A second award, in the Materials category, went to BASF alongside Ford and Supavut Thailand for door handle bezels on the model-year 2026 Ford Everest. The thermoplastic truck bed developed with Toyota and Vuteq for the model-year 2026 Toyota Tacoma took the Grand Award and also topped the Body Exterior category.