Covestro (ETR:1COV) has been assigned a €41.00 ($46.07) price target by research analysts at Goldman Sachs Group in a report issued on Tuesday, Borsen Zeitung reports. The firm presently has a “buy” rating on the stock. Goldman Sachs Group’s target price indicates a potential upside of 17.51% from the stock’s current price.
A number of other research analysts also recently issued reports on the company. Berenberg Bank set a €34.00 ($38.20) price target on Covestro and gave the stock a “neutral” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Covestro in a research report on Tuesday, June 9th. Barclays set a €38.00 ($42.70) price objective on Covestro and gave the stock a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group set a €40.00 ($44.94) price objective on Covestro and gave the stock a “buy” rating in a research report on Monday. Finally, Deutsche Bank set a €45.00 ($50.56) price objective on Covestro and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of €36.35 ($40.85).
ETR:1COV opened at €34.89 ($39.20) on Tuesday. The stock’s 50 day moving average price is €33.14 and its 200 day moving average price is €34.69. The company has a market capitalization of $6.28 billion and a PE ratio of 16.23. The company has a quick ratio of 1.31, a current ratio of 2.11 and a debt-to-equity ratio of 44.14. Covestro has a 52-week low of €23.54 ($26.45) and a 52-week high of €48.18 ($54.13).
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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