Covestro (ETR:1COV) has been given a €24.00 ($26.97) price target by JPMorgan Chase & Co. in a note issued to investors on Thursday, Borsen Zeitung reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 30.27% from the company’s previous close.
1COV has been the subject of a number of other reports. Nord/LB set a €31.00 ($34.83) price target on shares of Covestro and gave the company a “neutral” rating in a report on Friday, May 8th. Goldman Sachs Group set a €41.00 ($46.07) price target on shares of Covestro and gave the company a “buy” rating in a report on Tuesday. DZ Bank reaffirmed a “neutral” rating on shares of Covestro in a report on Monday, June 29th. Deutsche Bank set a €45.00 ($50.56) price target on shares of Covestro and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Baader Bank set a €33.00 ($37.08) price objective on shares of Covestro and gave the stock a “buy” rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of €36.41 ($40.91).
1COV opened at €34.42 ($38.67) on Thursday. The company has a fifty day simple moving average of €33.34 and a 200 day simple moving average of €34.61. The firm has a market cap of $6.29 billion and a price-to-earnings ratio of 16.01. Covestro has a twelve month low of €23.54 ($26.45) and a twelve month high of €48.18 ($54.13). 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 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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