Jefferies cuts BASF on chemical oversupply and deteriorating spreads
In short
Jefferies has downgraded chemical company BASF, citing persistent market pressures. The decision was driven by an oversupply of chemicals alongside deteriorating spreads within the industry.
Key points
- Jefferies has downgraded chemical company BASF, citing persistent market pressures.: Jefferies has downgraded chemical company BASF, citing persistent market pressures.
- The decision was driven by an oversupply of chemicals alongside deteriorating spreads wit…: The decision was driven by an oversupply of chemicals alongside deteriorating spreads within the industry.