Evonik Shares Gain Momentum as Analysts Revise Targets and Strategic Focus Sharpens

Analysts raise Evonik price target to €20, citing Q1 EBITDA upside from price hikes and FX. Insider buys and strategic portfolio focus add to positive momentum ahead of May 8 results.

Two prominent financial institutions have independently raised their price targets for Evonik shares. Both Goldman Sachs and Oddo BHF have set their sights on €20 per share, citing potential upside from price increases within the Advanced Technologies segment and favorable currency effects. These factors are anticipated to boost the company's adjusted EBITDA for the first quarter above current market consensus. Goldman Sachs has reaffirmed its buy recommendation in light of this outlook.

Adding to the positive sentiment, recent insider activity provided a vote of confidence. Members of the executive and supervisory boards purchased company stock on the open market in late March. This move coincided with the share price reaching a new six-month high of €16.83 on March 31.

Strategic Portfolio Review and Financial Discipline

Alongside this analyst optimism, Evonik continues to execute a strategic portfolio transformation. The company has stated that no acquisitions are planned through 2027. Instead, management is prioritizing debt reduction and the divestment of non-core operations. Specifically, sale options are being evaluated for the Syneqt and Oxeno business units. Syneqt, the service company for the Marl and Wesseling chemical parks, began operating as an independent GmbH at the start of 2026.

This disciplined approach is central to achieving a medium-term goal of an 11% return on capital, a significant step up from the 6.1% recorded for the 2025 fiscal year. The path forward involves a strict focus on Evonik's core business areas.

Confirmed Outlook and Upcoming Financial Calendar

For the full 2026 fiscal year, Evonik maintains its guidance for adjusted EBITDA, projecting a range of €1.7 billion to €2.0 billion. This aligns with the current consensus estimate of approximately €1.8 billion. Shareholders are set to receive a dividend of €1.00 per share for 2025 at the Annual General Meeting scheduled for June 3. Moving forward, starting with the current fiscal year, the company has adopted a payout ratio policy of 40% to 60% of adjusted net income.

The next key milestone for investors will be the release of first-quarter results on May 8. Should these figures confirm the positive EBITDA effects anticipated by Goldman Sachs and Oddo BHF, Evonik's stock could see a meaningful reduction in its gap to the €20 price level.