Berenberg Bank Lowers Evonik Industries (OTCMKTS:EVKIF) Price Target to €24.00

Evonik Industries (OTCMKTS:EVKIFGet Rating) had its price target cut by Berenberg Bank from €25.00 ($25.77) to €24.00 ($24.74) in a research report sent to investors on Friday, The Fly reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Evonik Industries from €35.00 ($36.08) to €28.00 ($28.87) and set a buy rating for the company in a research report on Friday, September 30th. UBS Group cut their price target on Evonik Industries from €21.00 ($21.65) to €19.00 ($19.59) and set a neutral rating on the stock in a research note on Thursday, October 6th. Morgan Stanley lowered Evonik Industries from an overweight rating to an equal weight rating in a research report on Tuesday, October 11th. Finally, Credit Suisse Group dropped their price objective on Evonik Industries from €19.00 ($19.59) to €16.50 ($17.01) in a report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Evonik Industries presently has an average rating of Hold and an average price target of $24.25.

Evonik Industries Stock Performance

Evonik Industries stock opened at $19.30 on Friday. Evonik Industries has a 12-month low of $16.69 and a 12-month high of $33.51. The business’s 50-day simple moving average is $18.02 and its 200 day simple moving average is $21.21.

About Evonik Industries

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Evonik Industries AG engages in the specialty chemicals business. It operates through Specialty Additives, Nutrition & Care, Smart Materials, Performance Materials, and Technology & Infrastructure segments. The Specialty Additives segment provides polyurethane additives, organically modified silicones, isophorones, epoxy curing agents, oil additives, fumed silicas, matting agents, TAA and TAA derivatives, and acetylenic diol-based surfactants for consumer goods and specialized industrial applications.

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