HSBC set a €39.50 ($45.93) price target on Covestro (ETR:1COV) in a research report sent to investors on Wednesday, Borsen Zeitung reports. The brokerage currently has a neutral rating on the stock.
Other equities research analysts have also issued research reports about the company. Berenberg Bank set a €50.00 ($58.14) target price on Covestro and gave the company a neutral rating in a research note on Tuesday, August 20th. Independent Research set a €46.00 ($53.49) target price on Covestro and gave the company a neutral rating in a research note on Wednesday, July 24th. UBS Group set a €41.00 ($47.67) target price on Covestro and gave the company a neutral rating in a research note on Monday, September 2nd. Barclays set a €52.00 ($60.47) target price on Covestro and gave the company a buy rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank set a €60.00 ($69.77) target price on Covestro and gave the company a buy rating in a research note on Thursday, July 25th. Three investment 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. The stock presently has a consensus rating of Hold and an average target price of €50.72 ($58.98).
ETR 1COV opened at €44.96 ($52.28) on Wednesday. Covestro has a 1-year low of €37.30 ($43.37) and a 1-year high of €73.88 ($85.91). The company has a current ratio of 2.02, a quick ratio of 1.17 and a debt-to-equity ratio of 43.09. The stock has a 50-day moving average of €40.77 and a 200-day moving average of €44.59. The firm has a market cap of $8.21 billion and a PE ratio of 8.83.
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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