Covestro (OTCMKTS:COVTY) Price Target Cut to €50.00 by Analysts at Deutsche Bank Aktiengesellschaft

Covestro (OTCMKTS:COVTYGet Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from €60.00 ($61.86) to €50.00 ($51.55) in a research report released on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus downgraded shares of Covestro from a buy rating to a hold rating in a report on Wednesday, April 13th. Societe Generale lowered their price target on shares of Covestro from €56.00 ($57.73) to €45.00 ($46.39) and set a hold rating on the stock in a report on Wednesday, May 4th. UBS Group lowered their price target on shares of Covestro from €43.00 ($44.33) to €42.00 ($43.30) in a report on Thursday, May 19th. Credit Suisse Group lowered their price target on shares of Covestro from €53.00 ($54.64) to €40.00 ($41.24) in a report on Wednesday, July 20th. Finally, Barclays lowered their price target on shares of Covestro from €71.00 ($73.20) to €60.00 ($61.86) and set an overweight rating on the stock in a report on Thursday, July 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $48.94.

Covestro Stock Performance

COVTY opened at $17.00 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 4.21, a PEG ratio of 0.25 and a beta of 1.21. The company’s 50 day moving average is $18.58 and its 200 day moving average is $23.04. Covestro has a 12-month low of $15.64 and a 12-month high of $34.97.

About Covestro

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Covestro AG supplies high-tech polymer materials and related application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.

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Analyst Recommendations for Covestro (OTCMKTS:COVTY)

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