Baader Bank Analysts Give Covestro (ETR:1COV) a €42.00 Price Target

Covestro (ETR:1COV) has been assigned a €42.00 ($48.84) target price by research analysts at Baader Bank in a report released on Monday, Borsen Zeitung reports. The brokerage presently has a “sell” rating on the stock. Baader Bank’s target price suggests a potential downside of 10.10% from the stock’s previous close.

1COV has been the subject of several other research reports. Bank of America set a €40.00 ($46.51) price objective on shares of Covestro and gave the stock a “sell” rating in a research report on Thursday, September 19th. Goldman Sachs Group reissued a “buy” rating and issued a price objective on shares of Covestro in a research report on Monday, October 7th. Morgan Stanley set a €55.00 ($63.95) price objective on shares of Covestro and gave the stock a “buy” rating in a research report on Monday, July 15th. Berenberg Bank set a €50.00 ($58.14) price objective on shares of Covestro and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Independent Research set a €46.00 ($53.49) price objective on shares of Covestro and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of €50.83 ($59.11).

Shares of Covestro stock traded up €0.98 ($1.14) during trading hours on Monday, hitting €46.72 ($54.33). The company’s stock had a trading volume of 631,315 shares, compared to its average volume of 917,794. Covestro has a 1-year low of €37.30 ($43.37) and a 1-year high of €61.48 ($71.49). The business has a fifty day moving average of €43.60 and a 200 day moving average of €44.00. The company has a market capitalization of $8.56 billion and a PE ratio of 9.18. The company has a quick ratio of 1.17, a current ratio of 2.02 and a debt-to-equity ratio of 43.09.

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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Analyst Recommendations for Covestro (ETR:1COV)

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