Posted by admin on Aug 17th, 2022
Covestro (OTCMKTS:COVTY – Get Rating) had its price target lifted by analysts at UBS Group from €33.00 ($33.67) to €34.00 ($34.69) in a research report issued to clients and investors on Monday, The Fly reports. The firm presently has a “neutral” rating on the stock.
A number of other research analysts also recently issued reports on the stock. Oddo Bhf downgraded shares of Covestro from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Credit Suisse Group dropped their price target on shares of Covestro from €53.00 ($54.08) to €40.00 ($40.82) in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Covestro from €60.00 ($61.22) to €50.00 ($51.02) and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Jefferies Financial Group upgraded shares of Covestro from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Societe Generale dropped their target price on shares of Covestro from €56.00 ($57.14) to €45.00 ($45.92) and set a “hold” rating on the stock in a research report on Wednesday, May 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.94.
OTCMKTS:COVTY opened at $16.82 on Monday. The firm’s 50 day simple moving average is $17.68 and its 200 day simple moving average is $22.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.14. Covestro has a one year low of $15.64 and a one year high of $34.97. The company has a market cap of $6.50 billion, a PE ratio of 4.16, a P/E/G ratio of 0.30 and a beta of 1.21.
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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