Bank of America set a €40.00 ($46.51) target price on Covestro (ETR:1COV) in a research note released on Thursday, September 19th, Borsen Zeitung reports. The firm currently has a sell rating on the stock.
Several other equities research analysts have also recently issued reports on 1COV. HSBC set a €39.50 ($45.93) price objective on Covestro and gave the stock a neutral rating in a report on Wednesday, September 18th. Barclays set a €52.00 ($60.47) price objective on Covestro and gave the stock a buy rating in a report on Tuesday, July 30th. Jefferies Financial Group set a €57.00 ($66.28) price objective on Covestro and gave the stock a buy rating in a report on Monday, September 16th. Morgan Stanley set a €55.00 ($63.95) price objective on Covestro and gave the stock a buy rating in a report on Monday, July 15th. Finally, Credit Suisse Group set a €46.50 ($54.07) target price on Covestro and gave the stock a neutral rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Covestro presently has a consensus rating of Hold and an average price target of €50.83 ($59.11).
1COV stock traded up €2.08 ($2.42) during trading on Thursday, hitting €45.45 ($52.85). The stock had a trading volume of 1,527,612 shares, compared to its average volume of 917,794. The company has a debt-to-equity ratio of 43.09, a current ratio of 2.02 and a quick ratio of 1.17. Covestro has a twelve month low of €37.30 ($43.37) and a twelve month high of €65.22 ($75.84). The stock has a market capitalization of $8.30 billion and a P/E ratio of 8.93. The company’s 50-day moving average price is €42.71 and its two-hundred day moving average price is €44.08.
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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