Covestro (ETR:1COV) has been given a €44.00 ($51.16) price objective by Berenberg Bank in a research report issued to clients and investors on Tuesday, Borsen Zeitung reports. The brokerage presently has a “neutral” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 8.27% from the stock’s current price.
A number of other brokerages also recently weighed in on 1COV. DZ Bank restated a “sell” rating on shares of Covestro in a research note on Wednesday, January 8th. Metzler set a €34.00 ($39.53) target price on Covestro and gave the stock a “sell” rating in a research note on Tuesday, October 29th. Barclays set a €50.00 ($58.14) target price on Covestro and gave the stock a “buy” rating in a research note on Tuesday. HSBC set a €38.00 ($44.19) target price on Covestro and gave the stock a “sell” rating in a research note on Tuesday, November 12th. Finally, Independent Research set a €47.00 ($54.65) target price on Covestro and gave the stock a “neutral” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Covestro presently has a consensus rating of “Hold” and an average price target of €46.00 ($53.49).
Shares of ETR 1COV opened at €40.64 ($47.26) on Tuesday. Covestro has a twelve month low of €37.30 ($43.37) and a twelve month high of €55.78 ($64.86). The stock’s 50 day moving average price is €41.87 and its 200-day moving average price is €42.71. The company has a market capitalization of $7.44 billion and a PE ratio of 12.53. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 34.70.
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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