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Investing.com - BNP Paribas (OTC:BNPQY) Exane initiated coverage on Wacker Chemie (ETR:WCHG) AG (ETR:WCH) (OTC:WKCMF) with an Underperform rating and a price target of EUR52.00.
The research firm expects Wacker Chemie to face "larger and longer lasting earnings downside" compared to its peers, with the company’s Polysilicon business not expected to reach its trough until 2027.
BNP Paribas Exane forecasts that Wacker is entering a period of "acute earnings pressure" across three of its four business lines, with deflationary pressures building in Silicones and worse-than-expected volume drag in Polymers during the second half of the year.
The firm’s estimates for Wacker Chemie are 11%, 16%, and 20% below consensus for 2025, 2026, and 2027, respectively, even when factoring in a macroeconomic recovery in 2026.
Wacker Chemie operates in four main business segments: Silicones, Polymers, Polysilicon, and Biosolutions, with the first three facing significant cyclical challenges according to the BNP Paribas Exane analysis.
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