Covestro (ETR:1COV) has been given a €43.00 ($50.00) target price by UBS Group in a research note issued on Thursday, Borsen Zeitung reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 4.22% from the stock’s previous close.
A number of other brokerages also recently issued reports on 1COV. Morgan Stanley set a $165.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the company a “neutral” rating in a research report on Friday, July 5th. DZ Bank downgraded from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Nord/LB set a €26.00 ($30.23) price objective on Deutsche Lufthansa and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Covestro presently has an average rating of “Hold” and a consensus target price of €53.72 ($62.47).
ETR:1COV opened at €41.26 ($47.98) on Thursday. The company has a quick ratio of 1.27, a current ratio of 2.17 and a debt-to-equity ratio of 33.57. The stock has a market capitalization of $7.48 billion and a P/E ratio of 5.73. Covestro has a 12 month low of €38.43 ($44.69) and a 12 month high of €83.98 ($97.65). The stock has a 50-day moving average price of €42.14.
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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