Berenberg Keeps BASF at Hold After 'Good' Q2 Report

06:59 AM EDT, 07/30/2026 (MT Newswires) -- Berenberg maintained BASF's (BAS.F) hold rating as analysts took note of a rally in the company's shares that followed its "good" full second-quarter report. "BASF's full Q2 earnings of 29 July triggered a rally in the shares, which had declined by c10% since the late April/early May highs in commodity chemicals pricing triggered by the Iran conflict," according to a Thursday note. "However, we suspect that much of the rally was driven by the absence of substantive results from talks to resolve the Iran conflict." For the second quarter, the German chemicals company reported sales of 17.21 billion euros, up from 14.79 billion euros a year ago, with the research firm highlighting BASF's Materials and Agricultural Solutions divisions as the stand-outs. Against this backdrop, Berenberg raised its EPS estimates for 2026 through 2028, reflecting higher margins in Agricultural Solutions, the boost from higher prices in the Materials segment, lower financial charges, and an earlier-than-expected start to the "modestly above" 1 billion-euro share buyback tranche. EBIT and sales projections were also increased across the three-year period. The stock's price target was increased to 50 euros from 47 euros.