Evonik upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Thomas Wrigglesworth upgraded Evonik (EVKIF) to Equal Weight from Underweight with a price target of EUR 14.70, down from EUR 15. The company’s earnings downside is now well understood on methionine mark-to-market, with its dividend risk likely priced in but may not occur, the analyst tells investors in a research note.