Ingevity to challenge jury verdict on emissions control patent claim by BASF » 06:1909/1609/16/21
Ingevity (NGVT) intends…
Ingevity (NGVT) intends to challenge a jury verdict rendered on Sept. 15 in the District Court in Delaware related to claims by BASF (BASFY) that Ingevity engaged in anticompetitive activities and interfered with an alleged prospective relationship between BASF and a customer. The claims relate to Ingevity's enforcement of its patent covering canister systems used in automotive gasoline vapor emissions control and the company's entry into several supply agreements with customers of its fuel vapor canister honeycombs. The jury ordered Ingevity to pay antitrust damages of approximately $28M, which will be automatically tripled under U.S. antitrust law to roughly $85M. Ingevity intends to pursue all legal relief available to challenge this outcome. Ingevity's '844 patent - set to expire in March 2022 - relates to certain canister systems designed to achieve gasoline vapor emissions levels that comply with EPA Tier 3 and California LEV III regulations. The verdict is not related to the manufacture of Ingevity's activated carbon. The company does not anticipate an immediate impact to commercial sales and is not aware of a competing certified or tested honeycomb that could replace sales of Ingevity's product immediately.
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BASF price target raised to EUR 77 from EUR 72 at Barclays » 15:1208/0208/02/21
Barclays analyst Sebastian Satz raised the firm's price target on BASF to EUR 77 from EUR 72 and keeps an Equal Weight rating on the shares.
BASF price target lowered to EUR 72 from EUR 74 at Berenberg » 12:4207/3007/30/21
Berenberg analyst Sebastian Bray lowered the firm's price target on BASF to EUR 72 from EUR 74 and keeps a Hold rating on the shares.
BASF upgraded to Buy from Add at Baader Helvea » 05:4007/3007/30/21
Baader Helvea analyst…
Baader Helvea analyst Markus Mayer upgraded BASF to Buy from Add with an EUR 85 price target.
BASF price target raised to EUR 80 from EUR 79 at Credit Suisse » 15:3207/2907/29/21
Credit Suisse analyst…
Credit Suisse analyst Samuel Perry raised the firm's price target on BASF to EUR 80 from EUR 79 and keeps an Outperform rating on the shares.
BASF price target lowered to EUR 77 from EUR 78 at UBS » 14:3207/1407/14/21
UBS analyst Andrew Stott…
UBS analyst Andrew Stott lowered the firm's price target on BASF to EUR 77 from EUR 78 and keeps a Buy rating on the shares.
BASF price target raised to EUR 92 from EUR 88 at Deutsche Bank » 12:3007/1307/13/21
Deutsche Bank analyst Tim…
Deutsche Bank analyst Tim Jones raised the firm's price target on BASF to EUR 92 from EUR 88 and keeps a Buy rating on the shares.
Goldman Sachs AM, EDF Renewables report operation of Tomrs River project » 12:0207/1307/13/21
EDF Renewables North…
EDF Renewables North America and the Renewable Power business within Goldman Sachs Asset Management (GS) announced the commercial operation of the Toms River Solar Project, delivering 28.9 megawatts of clean renewable energy. The project, built on BASF Corporation's (BASFY) property by EDFR in coordination with PVOne and Goldman Sachs, is New Jersey's largest solar project and the largest solar project built on a Superfund site in the U.S., the companies said in a statement.
BASF price target raised to EUR 72 from EUR 68 at JPMorgan » 11:2907/1207/12/21
JPMorgan analyst Chetan…
JPMorgan analyst Chetan Udeshi raised the firm's price target on BASF to EUR 72 from EUR 68 and keeps a Neutral rating on the shares.
BASF sees 2021 revenue EUR 74B - EUR 77B vs. prior EUR 68B - EUR 71B » 10:2007/0907/09/21
Sees 2021 EBIT before…
Sees 2021 EBIT before special items EUR 7.0B - EUR 7.5B vs. prior outlook EUR 5.0B - EUR 5.8B. Cites the "strong business development in the first half of 2021."