Berenberg, Deutsche Bank turn bearish on Wacker on limited earnings growth; shares

What happened: Berenberg and Deutsche Bank both downgraded Wacker Chemie AG, and shares fell over 2% on Friday. Key numbers: Berenberg cut its price target to €85 from €104. Deutsche Bank cut its target 11% to €75 from €84. Deutsche Bank's 2027-29 estimates are on average 7% below consensus. Why it matters: Berenberg cited limited prospects for significant EBITDA growth in 2027, and Deutsche Bank reduced its earnings forecasts. Deutsche Bank expects competitors to move further downstream, adding pressure on Wacker's Polymers and Silicones businesses.

Berenberg and Deutsche Bank both downgraded Wacker Chemie AG, and shares fell over 2% on Friday.

Berenberg cited limited prospects for significant EBITDA growth in 2027, and Deutsche Bank reduced its earnings forecasts. Deutsche Bank expects competitors to move further downstream, adding pressure on Wacker's Polymers and Silicones businesses.