Should Investors Turn Their Attention to Evonik (ETR:EVK)? Citigroup Corp. Has Just Upgraded the Stock


Evonik (ETR:EVK) Stock Upgrade

In recent note distributed to Clients on 2 December, equity research analysts at Citigroup Corp.’s research division boosted their rating on shares of Evonik (ETR:EVK) stock to a Buy.

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. The mean of all analyst targets is €37.58 with a 17.62% above today’s (€31.95) stock price. Evonik was the topic of 27 analyst reports since July 15, 2015 according to the firm StockzIntelligence Inc. Credit Suisse downgraded shares on November 27 to “Underperform” rating. Bankhaus Lampe upgraded shares to “Buy” rating and €40 target share price in a report from a November 5. Societe Generale upgraded EVK stock in a recent report from November 17 to “Buy” rating. BNP Paribas maintained the rating on October 20. BNP Paribas has a “Neutral” rating and a €34 price target on shares. Finally, Independent Research maintained the stock with “Hold” rating in a report issued on a November 5.

The stock decreased 1.21% or EUR 0.39 on December 1, striking EUR 31.95. Approximately 562,658 shares of stock traded hands. Evonik Industries AG (ETR:EVK) has declined 53.82% since April 29, 2015 and is downtrending. It has underperformed by 52.20% the S&P500.

 Should Investors Turn Their Attention to Evonik (ETR:EVK)? Citigroup Corp. Has Just Upgraded the Stock

Evonik Industries AG is a Germany firm engaged in the specialty chemicals sector. The company has a market cap of 15.20 billion EUR. It has five business divisions: Consumer Health and Nutrition, Resource Efficiency, Specialty Materials, Services and Real Estate. It has 14.47 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)