Bank of America Reiterates €40.00 Price Target for Covestro (ETR:1COV)

Bank of America set a €40.00 ($46.51) target price on Covestro (ETR:1COV) in a research report report published on Thursday, Borsen Zeitung reports. The brokerage currently has a sell rating on the stock.

A number of other research analysts have also weighed in on 1COV. Goldman Sachs Group set a €53.00 ($61.63) target price on shares of Covestro and gave the company a buy rating in a report on Wednesday, September 18th. Baader Bank set a €42.00 ($48.84) price objective on shares of Covestro and gave the stock a sell rating in a research note on Tuesday, August 13th. Nord/LB set a €46.00 ($53.49) price objective on shares of Covestro and gave the stock a neutral rating in a research note on Wednesday, July 24th. Credit Suisse Group set a €46.50 ($54.07) price objective on shares of Covestro and gave the stock a neutral rating in a research note on Thursday, July 25th. Finally, Morgan Stanley set a €55.00 ($63.95) price objective on shares of Covestro and gave the stock a buy rating in a research note on Monday, July 15th. Three research 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 currently has an average rating of Hold and an average price target of €50.72 ($58.98).

1COV stock opened at €44.96 ($52.28) on Thursday. The firm has a fifty day moving average price of €40.77 and a 200 day moving average price of €44.59. Covestro has a fifty-two week low of €37.30 ($43.37) and a fifty-two week high of €73.88 ($85.91). The company has a debt-to-equity ratio of 43.09, a quick ratio of 1.17 and a current ratio of 2.02. The firm has a market cap of $8.21 billion and a PE ratio of 8.83.

About Covestro

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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