Finally Time For Investors to Buy? Societe Generale Upgrades Evonik (ETR:EVK), With EUR 42.00 Target


Evonik (ETR:EVK) Stock Upgrade

Research analysts at the Societe Generale equity division raised shares of Evonik (ETR:EVK) to a “Buy” on Wednesday morning. Societe Generale currently has a TP of EUR 42.00 on EVK or 39.40% more upside.

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 €37.67 with a 26.49% above today’s (€29.78) stock price. Evonik was the topic of 30 analyst reports since July 15, 2015 according to the firm StockzIntelligence Inc. Societe Generale upgraded shares on December 9 to “Buy” rating. Citigroup upgraded shares to “Buy” rating and €40 target share price in a report from a November 6. Citigroup upgraded EVK stock in a recent report from December 2 to “Buy” rating. Independent Research maintained the rating on November 5. Independent Research has a “Hold” rating and a €37 price target on shares. Finally, Landesbank maintained the stock with “Hold” rating in a report issued on a November 20.

Approximately 154,993 shares of stock traded hands. Evonik Industries AG (ETR:EVK) has declined 49.91% since May 6, 2015 and is downtrending. It has underperformed by 49.12% the S&P500.

 Finally Time For Investors to Buy? Societe Generale Upgrades Evonik (ETR:EVK), With EUR 42.00 Target

Evonik Industries AG is a Germany firm engaged in the specialty chemicals sector. The company has a market cap of 14.36 billion EUR. It has five business divisions: Consumer Health and Nutrition, Resource Efficiency, Specialty Materials, Services and Real Estate. It has 13.49 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).