Covestro (ETR:1COV) Given a €39.50 Price Target at HSBC

HSBC set a €39.50 ($45.93) price objective on Covestro (ETR:1COV) in a research note issued to investors on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a neutral rating on the stock.

1COV has been the subject of a number of other reports. Commerzbank set a €48.00 ($55.81) target price on Covestro and gave the stock a neutral rating in a research report on Wednesday, July 24th. Berenberg Bank set a €50.00 ($58.14) target price on Covestro and gave the stock a neutral rating in a research report on Tuesday, August 20th. Deutsche Bank set a €60.00 ($69.77) target price on Covestro and gave the stock a buy rating in a research report 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 report on Tuesday, August 13th. Finally, Nord/LB set a €46.00 ($53.49) target price on Covestro and gave the stock a neutral rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of €50.72 ($58.98).

ETR:1COV opened at €44.96 ($52.28) on Wednesday. The company has a debt-to-equity ratio of 43.09, a current ratio of 2.02 and a quick ratio of 1.17. The business has a fifty day simple moving average of €40.77 and a two-hundred day simple moving average of €44.59. Covestro has a 1 year low of €37.30 ($43.37) and a 1 year high of €73.88 ($85.91). The company has a market capitalization of $8.21 billion and a P/E ratio of 8.83.



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.

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