Covestro (ETR:1COV) PT Set at €38.00 by HSBC

Covestro (ETR:1COV) has been assigned a €38.00 ($44.19) target price by analysts at HSBC in a research note issued to investors on Tuesday, Borsen Zeitung reports. The brokerage currently has a “sell” rating on the stock. HSBC’s price objective would suggest a potential downside of 15.41% from the company’s current price.

Several other research firms also recently issued reports on 1COV. Morgan Stanley set a €52.00 ($60.47) price target on Covestro and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group set a €57.00 ($66.28) price target on Covestro and gave the company a “buy” rating in a research note on Tuesday, November 5th. DZ Bank reaffirmed a “sell” rating on shares of Covestro in a research report on Monday, October 28th. Kepler Capital Markets set a €49.00 ($56.98) target price on Covestro and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Nord/LB set a €42.00 ($48.84) target price on Covestro and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of €49.50 ($57.56).

1COV opened at €44.92 ($52.23) on Tuesday. The business’s 50-day moving average price is €45.03 and its two-hundred day moving average price is €43.13. Covestro has a 1 year low of €37.30 ($43.37) and a 1 year high of €59.96 ($69.72). The company has a market capitalization of $8.13 billion and a price-to-earnings ratio of 13.85. The company has a debt-to-equity ratio of 34.70, a current ratio of 2.26 and a quick ratio of 1.25.

About Covestro

Covestro AG develops, produces, and markets polymer materials for various industries worldwide. The company operates in three segments: Polyurethanes; Polycarbonates; and Coatings, Adhesives, Specialties. The Polyurethanes segment offers precursors, such as flexible polyurethane foam primarily used in the furniture and automotive industries; and rigid foam used as insulating material in the construction industry and in refrigeration chains.

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Analyst Recommendations for Covestro (ETR:1COV)

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