BASF and Toyota Team Up to Develop Body&Paint Program for Europe

BASF SE BASFY entered into a strategic partnership with Toyota Motor to develop the Toyota Body&Paint program for Europe. It aims to build a strong, long-term collaboration for the Toyota and Lexus brands.

BASF Coatings will be providing the European markets with premium automotive refinish solutions, under the Glasurit and R-M brands. Toyota’s Body&Paint program will be further developed through a comprehensive set of BASF’s Body Shop BOOST consultancy services, and making the cloud-based digital color, business and training solutions platform, Refinity, accessible to them. BASF’s innovation and expertise will also help Toyota achieve its sustainability and quality targets.

The European markets are expected to witness global standards of refinish repair works through continuous improvements and a strong focus on network enhancement through new business opportunities.

BASFY stock has gained 2.3% over the past year compared with the industry’s 24% decline.

BASFY’s Zacks Rank & Key Picks

BASFY currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Akzo Nobel N.V. AKZOY, Newmont Corporation NEM and Balchem Corporation BCPC. While AKZOY currently sports a Zacks Rank #1 (Strong Buy), NEM and BCPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Akzo Nobel’s current-year earnings is pegged at $1.66 per share, implying an 18.6% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once.

The Zacks Consensus Estimate for NEM’s current-year earnings is pegged at $4.18 per share, indicating a 20.1% year-over-year rise.Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 32.41%. NEM’s shares have gained 31% in the past year.

The Zacks Consensus Estimate for BCPC’s 2025 earnings is pegged at $5.15 per share, indicating a rise of 31% from year-ago levels. The company’s earnings beat the consensus estimate in two of the trailing four quarters while missing the rest. Its shares have gained 10% in the past year.

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This article originally published on Zacks Investment Research (zacks.com).

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