Covestro (ETR:1COV) received a €48.00 ($55.81) price objective from Goldman Sachs Group in a note issued to investors on Tuesday, Borsen Zeitung reports. The brokerage currently has a “neutral” rating on the stock. Goldman Sachs Group’s price objective suggests a potential upside of 24.58% from the stock’s previous close.
A number of other equities analysts also recently issued reports on the company. Commerzbank set a €48.00 ($55.81) price objective on Covestro and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Barclays set a €52.00 ($60.47) target price on Covestro and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Berenberg Bank set a €50.00 ($58.14) target price on Covestro and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Baader Bank set a €42.00 ($48.84) target price on Covestro and gave the stock a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. set a €52.00 ($60.47) target price on Covestro and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of €51.81 ($60.24).
Shares of 1COV opened at €38.53 ($44.80) on Tuesday. Covestro has a 1 year low of €38.41 ($44.66) and a 1 year high of €80.16 ($93.21). The company has a quick ratio of 1.17, a current ratio of 2.02 and a debt-to-equity ratio of 43.09. The company has a market capitalization of $7.04 billion and a P/E ratio of 7.57. The business’s 50-day moving average is €41.92.
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.
Further Reading: Buyback
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