The German companies BASF SE (DE:BAS) and Allianz SE (DE:ALV) have a forecasted upside potential of more than 20% in their share prices. Analysts have assigned Allianz a Strong Buy rating, whereas BASF has been given a Hold rating.
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Both of these companies also offer attractive dividends to investors, making them a perfect fit for balanced growth.
Let’s get into some details.
BASF SE
BASF is a prominent chemical manufacturing company in Europe. The company is engaged in the manufacturing, marketing, and sales of a wide range of products, encompassing chemicals, plastics, crop protection products, and performance products.
Over the past year, the company’s stock has demonstrated volatility and yielded a modest return of 5.7%. Analysts predict that the company might experience short-term disruptions due to an ongoing economic slowdown and margin pressures. As a result, they have assigned a Hold rating to the stock.
Yesterday, Jefferies’ analyst Chris Counihan reiterated his Hold rating, forecasting a growth of almost 10% in the share price.
Prior to that, two days ago, Chetan Udeshi from J.P. Morgan confirmed his Buy rating on the stock.
Is BASF a Good Stock to Buy?
According to TipRanks’ analyst consensus, BAS stock has a Hold rating based on a total of 13 recommendations, of which four are Buys.
The average price target is €53.27, which shows a growth of 25% from the current price level.
Allianz SE
Allianz is a leading insurance provider in Germany, with a presence spanning over 70 countries. The company offers a comprehensive array of products and services in insurance and asset management.
Last month, the company reported its first-quarter earnings for 2023. The company’s business volume increased by almost 4% to €46 billion. Moreover, operating profits grew by 24% to €3.7 billion, driven by its diversified business operations. For the full year, the company is targeting an operating profit of €14.2 billion in 2023.
Analysts remain highly bullish on the stock, with three major Buy ratings that were confirmed in the last month. 13 days ago, Michael Huttner from Berenberg Bank reiterated his Buy rating on the stock, predicting a growth rate of 49% in the share price.
Is Allianz Stock a Buy?
According to TipRanks, ALV stock has a Strong Buy rating based on seven Buy and two Hold recommendations.
At an average price forecast of €252.38, analysts expect a growth of 21.3% in the share price.
Conclusion
These two shares continue to receive a bullish outlook from analysts, with expectations of over 20% growth in their respective share prices. Analysts have assigned a Strong Buy rating to ALV, while BASF holds a Hold rating.
