1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Narrow-moat BASF’s second-quarter results were in line with its preliminary numbers released on July 9. We don’t expect to make a material change to our forecast or EUR 73 ($22) fair value estimate. At current levels, the shares look fairly valued.
Based in Germany, BASF is the world’s largest chemical company, with products spanning the full spectrum of commodities to specialities. In addition, the company is a strong player in agricultural crop protection. Given its sheer size, BASF has a top-three market position in 70% of its businesses.
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