Credit Suisse Group Reiterates “€36.00” Price Target for Covestro (ETR:1COV)

Credit Suisse Group set a €36.00 ($40.45) price objective on Covestro (ETR:1COV) in a report issued on Monday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Deutsche Bank set a €45.00 ($50.56) price target on shares of Covestro and gave the stock a buy rating in a report on Tuesday, June 30th. Barclays set a €38.00 ($42.70) price target on shares of Covestro and gave the stock a buy rating in a report on Friday, May 1st. Kepler Capital Markets set a €28.00 ($31.46) price target on shares of Covestro and gave the stock a sell rating in a report on Thursday, May 28th. Goldman Sachs Group set a €41.00 ($46.07) price objective on shares of Covestro and gave the stock a buy rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group set a €40.00 ($44.94) price objective on shares of Covestro and gave the stock a buy rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of €36.41 ($40.91).

ETR 1COV opened at €34.42 ($38.67) on Monday. The firm’s fifty day simple moving average is €33.34 and its two-hundred day simple moving average is €34.61. The company has a current ratio of 2.11, a quick ratio of 1.31 and a debt-to-equity ratio of 44.14. Covestro has a 12-month low of €23.54 ($26.45) and a 12-month high of €48.18 ($54.13). The firm has a market capitalization of $6.40 billion and a P/E ratio of 16.29.

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Covestro (ETR:1COV)

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