Evonik Industries AG stock climbed 5.1% to €16.06 in today’s trading after Deutsche Bank Research analyst Virginie Boucher-Ferte raised her price target on the specialty chemicals firm from €16 to €17 and predicted the company will significantly outperform its own second-quarter profit guidance.
In her note, the analyst estimated Q2 adjusted EBITDA at about €625 million. That projection is more than 14% higher than Evonik’s stated guidance of at least €550 million and is also above the Bloomberg consensus cited in the research note. Deutsche Bank additionally indicated that Evonik may raise its full-year outlook at the end of the month.
The bank’s assessment provided a counterbalance to investor concerns that had emerged after Evonik announced a fresh round of restructuring measures. In the prior session, Evonik shares fell roughly 3% following the company’s disclosure that it planned to cut 3,200 additional jobs worldwide through 2029 - including 2,150 roles in Germany - and to wind down its unprofitable polyester business in 2027. That restructuring announcement had weighed on sentiment and prompted selling pressure across the stock.
Deutsche Bank’s near-term earnings upgrade view, together with the upward revision to the price target, gave investors a reason to re-enter the stock. The analyst note was a company-specific catalyst that helped erase much of the previous day’s losses and pushed the share price back toward the upper end of its recent trading range.
Macro conditions also supported the rebound. U.S. equity benchmarks posted solid gains in today’s session, with the S&P 500 up 1.1% and the NASDAQ advancing 1.9%. That risk-on tone in U.S. markets provided a favorable backdrop for European equities, aiding the recovery in chemical sector names.
Evonik’s peers in the chemical space had been hit alongside it the day before. The note observed that BASF and Brenntag also experienced sharp declines on Thursday, placing the broader European chemicals sector in position for a relief bounce should any company-specific positive news emerge. In this case, Deutsche Bank’s earnings-beat projection and target increase supplied the needed catalyst.
In sum, the combination of a bullish analyst forecast, a higher price target and a supportive market environment underpinned today’s strong performance in Evonik shares, offsetting investor concerns tied to the announced workforce reductions and the planned polyester exit.