Covestro (OTCMKTS:COVTY) Given New €42.00 Price Target at UBS Group | MarketBeat

2022-05-21 22:53:33 By : Mr. Ronnie Jiang

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Covestro (OTCMKTS:COVTY - Get Rating) had its price objective dropped by equities research analysts at UBS Group from €43.00 ($44.79) to €42.00 ($43.75) in a research report issued to clients and investors on Thursday, The Fly reports.

Several other equities analysts also recently weighed in on COVTY. JPMorgan Chase & Co. reduced their target price on shares of Covestro from €62.00 ($64.58) to €58.50 ($60.94) and set a "neutral" rating for the company in a research note on Wednesday, May 4th. Morgan Stanley reduced their target price on shares of Covestro from €64.00 ($66.67) to €62.00 ($64.58) in a research note on Monday, March 28th. Societe Generale reduced their target price on shares of Covestro from €56.00 ($58.33) to €45.00 ($46.88) and set a "hold" rating for the company in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Covestro from €72.00 ($75.00) to €60.00 ($62.50) in a research note on Wednesday, May 4th. Finally, Stifel Nicolaus cut shares of Covestro from a "buy" rating to a "hold" rating in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.07.

COVTY stock traded down $0.79 during mid-day trading on Thursday, hitting $20.71. The company had a trading volume of 41,058 shares, compared to its average volume of 77,933. The firm has a market cap of $8.00 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 0.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 2.13. The stock's fifty day moving average price is $23.50 and its two-hundred day moving average price is $27.69. Covestro has a 12 month low of $19.67 and a 12 month high of $35.85.

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Covestro Company Profile (Get Rating)

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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