Covestro (ETR:1COV) has been assigned a €48.00 ($56.47) target price by stock analysts at Baader Bank in a research note issued on Monday, Borsen Zeitung reports. The brokerage currently has a “buy” rating on the stock. Baader Bank’s target price indicates a potential upside of 2.50% from the stock’s current price.
1COV has been the subject of a number of other research reports. Credit Suisse Group set a €51.50 ($60.59) price target on Covestro and gave the stock a “buy” rating in a report on Monday. Berenberg Bank set a €36.00 ($42.35) target price on shares of Covestro and gave the stock a “neutral” rating in a report on Friday, July 24th. UBS Group set a €39.00 ($45.88) price target on shares of Covestro and gave the company a “sell” rating in a report on Thursday, September 10th. Independent Research set a €50.00 ($58.82) price objective on shares of Covestro and gave the stock a “neutral” rating in a research report on Friday. Finally, Nord/LB set a €34.00 ($40.00) target price on shares of Covestro and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Covestro presently has a consensus rating of “Hold” and a consensus price target of €44.83 ($52.75).
1COV traded up €2.23 ($2.62) during trading on Monday, hitting €46.83 ($55.09). 5,182,007 shares of the stock traded hands, compared to its average volume of 917,794. The business has a 50 day moving average price of €39.17 and a 200 day moving average price of €33.90. The company has a debt-to-equity ratio of 63.67, a current ratio of 2.83 and a quick ratio of 1.88. Covestro has a twelve month low of €23.54 ($27.69) and a twelve month high of €48.18 ($56.68). The company has a market cap of $8.56 billion and a price-to-earnings ratio of 56.35.
Covestro Company Profile
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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