Credit Suisse Group Has Decided To Downgrade Evonik (ETR:EVK) Shares

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Evonik (ETR:EVK) Receives a Downgrade

The stock rating of Evonik (ETR:EVK) was lowered by professional analysts at Credit Suisse Group to a “Underperform”. This has been announced in an interesting research report issued on Friday, 27 November. Credit Suisse Group now has a EUR 31.00 target price per share on the shares, which could mean a possible downside of -9.09%.

From a total of 13 analysts covering Evonik (ETR:EVK) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 54% of the ratings are positive. The highest target price is €42 while the lowest target price is €31.30. The mean of all analyst targets is €37.61 with a 10.20% above today’s (€34.13) stock price. Evonik was the topic of 26 analyst reports since July 15, 2015 according to the firm StockzIntelligence Inc. Landesbank maintained shares on November 20 with “Hold” rating. BNP Paribas maintained shares with “Neutral” rating and €34 target share price in a report from an October 20. Citigroup upgraded EVK stock in a recent report from November 6 to “Buy” rating. HSBC upgraded the rating on October 20. HSBC has a “Buy” rating and a €38 price target on shares. Finally, Bankhaus Lampe upgraded the stock to “Buy” rating in a report issued on a November 5.

The stock increased 0.68% or EUR 0.23 on November 26, striking EUR 34.13. Approximately 365,099 shares of stock traded hands. Evonik Industries AG (ETR:EVK) has declined 58.06% since April 24, 2015 and is downtrending. It has underperformed by 56.70% the S&P500.

 Credit Suisse Group Has Decided To Downgrade Evonik (ETR:EVK) Shares

Evonik Industries AG is a Germany firm engaged in the specialty chemicals sector. The company has a market cap of 15.90 billion EUR. It has five business divisions: Consumer Health and Nutrition, Resource Efficiency, Specialty Materials, Services and Real Estate. It has 15.46 P/E ratio. The Consumer Health and Nutrition produces specialty chemicals, principally for applications in consumer goods, animal nutrition and pharmaceutical sectors.

According to Zacks Investment Research, “EVER GLORY INTERNATIONAL GROUP is a US publicly traded company that engages in international garment manufacturing business for primarily middle to high grade well known casual wear, outwear and sportswear brands.Through use of a large network of global garment manufacturers they has set strategic marketing and logistics channels in Japan, United States, Europe and other places. They have succeeded in forging long term partnerships with many world famous clothing companies and large scale retailing chains and have strategic business partners in countries including China, Europe and the U.S.” Get a free copy of the Zacks research report on Evonik Industries AG (EVK)

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