Commerzbank Reiterates “€48.00” Price Target for Covestro (ETR:1COV)
Commerzbank set a €48.00 ($55.81) target price on Covestro (ETR:1COV) in a research report report published on Wednesday morning, Borsen Zeitung reports. The firm currently has a neutral rating on the stock.
Several other research analysts have also recently weighed in on the stock. Societe Generale reissued a hold rating on shares of Daimler in a report on Tuesday, April 30th. DZ Bank cut shares of from a buy rating to a hold rating in a report on Friday, June 14th. Morgan Stanley set a $70.00 price objective on shares of Edison International and gave the company a hold rating in a report on Monday, July 15th. Credit Suisse Group raised shares of Laredo Petroleum from an underperform rating to a neutral rating and set a $2.83 price objective for the company in a report on Tuesday, July 9th. They noted that the move was a valuation call. Finally, Independent Research set a €51.00 ($59.30) price objective on shares of Daimler and gave the company a neutral rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of €52.14 ($60.63).
1COV opened at €42.85 ($49.83) on Wednesday. The company has a debt-to-equity ratio of 33.57, a current ratio of 2.17 and a quick ratio of 1.27. The firm’s 50 day moving average is €42.73. Covestro has a twelve month low of €38.43 ($44.69) and a twelve month high of €83.98 ($97.65). The stock has a market capitalization of $7.83 billion and a PE ratio of 5.95.
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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