The private bank Berenberg has lowered the price target for Evonik and left the rating at “Hold”.
Berenberg has lowered its price target from 20 to 18 euros. In a study available on Thursday, analyst Sebastian Bray reduced the estimates for the chemical company’s operating profit (EBIT) for the years 2024 to 2026. A higher tax burden could have burdened the year 2024. There is also a risk of increased competition in the adhesive chemicals business.
The Evonik share was temporarily trading 0.12 percent lower at 16.71 euros in XETRA trading on Thursday.
/bek/gl
Publication of the original study: 01/01/2025 / 6:00 p.m. / GMT First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study
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