2024-07-07 03:53:13 ET
Summary
- Evonik has shown growth and strong performance in 3Q and 4Q23, with a 19% increase in share price since the last article.
- The company is undergoing a strategic realignment and investing in future technologies, leading to long-term growth opportunities.
- Evonik remains undervalued, with a positive outlook for 2024E and potential for 15%+ annualized upside, making it a "BUY".
Dear readers/followers,
Back in December, I wrote my last article on Evonik Industries ( OTCPK:EVKIY ) (EVKIF) which I intend to update here. The company, at the time and today, has been a very volatile sort of investment. This shouldn't surprise you if you follow the company - there's a lot of volatility to the stock and where It could go, given its operational specifics. 3Q and 4Q23 were good, and the company has grown since that time. In fact, since I posted my last article almost 7-8 months ago, I've been up quite a bit since then, almost 19% including FX, but that isn't unfortunately more than the market since then. Still, a good result in a volatile company, with plenty of more to come. If you look at the native, the figures are a bit different, with a total return of 21.65% and an average price change of 15%....
Read the full article on Seeking Alpha
For further details see:
Evonik - I Continue To Be Long Here