Barclays cuts Evonik to 'equal weight' as upside priced in

Evonik Industries AG

21/05/2026 11:58

** Barclays downgrades German chemicals company Evonik EVKn.DE to "equal weight" from "overweight" as near-term earnings momentum is already reflected in the stock valuation

** Despite strong operational momentum, the broker says there is "limited scope for valuation upside in our base case" following recent share price outperformance against peers

** The broker attributes a significant portion of the upside to tight supply and strong pricing momentum for the chemical compound methionine amid ongoing disruptions in Asia

** Barclays lifts its 2026 core earnings forecast by 4% to 1.97 billion euros but warns the trajectory remains exposed to H2 demand normalisation and cost inflation headwinds

 (Reporting by Orest Dovhan)

 ((Orest.Dovhan@thomsonreuters.com))