Evonik: Another Exit In A Low Margin Division [Seeking Alpha]
BASF SE S/ADR (BASFY)
NASDAQ:AMEX Investor Relations:
basf.com/en/company/investor-relations.html
Company Research
Source: Seeking Alpha
Evonik confirmed its dividend per share thanks to a solid FCF and a supportive cash conversion rate. With conservative 2024 guidance and a discount on peers' valuation, our buy rating is then confirmed. Following our BASF update , we are back to comment on Evonik Industries AG ( OTCPK:EVKIF OTCPK:EVKIY ). Here at the Lab, we have a long-standing buy rating for the German specialty chemical player. For our new readers, Evonik develops, constructs, and trades chemicals and accessories for use in the fields of biotechnology and life sciences. On a divisional basis, the company reported its financials with five segments: Specialty Additives, Nutrition & Care, Smart Materials, Performance Materials, and Technology & Infrastructure. After Q4 results and a new cost-saving plan called “ Evonik Tailor Made ,“ we made the necessary financial adjustments. We lowered our target price in our last publication while maintaining a buy rating target. This was supported by 1) , 2) a tasty dividend
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News
- BASF SE (PNK:BASFY) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- BASF: Volume Recovery In Place [Seeking Alpha]Seeking Alpha
- New chief executive faces challenges at German chemical giant BASF [Yahoo! Finance]Yahoo! Finance
- IDTechEx Forecasts Metal-Organic Frameworks Market to Grow to US$685 Million by 2034 [Yahoo! Finance]Yahoo! Finance
- BASF post slight Q1 earnings drop but beats forecast [Yahoo! Finance]Yahoo! Finance