Covestro (ETR:1COV) received a €51.00 ($59.30) price target from UBS Group in a report released on Monday, February 4th, www.boersen-zeitung.de reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential downside of 0.27% from the stock’s previous close.
A number of other research firms have also recently issued reports on 1COV. Goldman Sachs Group set a €45.00 ($52.33) target price on Covestro and gave the company a “neutral” rating in a research report on Friday, February 1st. Kepler Capital Markets set a €57.00 ($66.28) price target on Covestro and gave the company a “buy” rating in a report on Thursday, January 31st. Nord/LB set a €48.00 ($55.81) target price on Covestro and gave the company a “neutral” rating in a research report on Thursday, January 24th. Baader Bank set a €48.00 ($55.81) target price on Covestro and gave the stock a “neutral” rating in a report on Friday, January 18th. Finally, Credit Suisse Group set a €53.00 ($61.63) target price on shares of Covestro and gave the stock a “neutral” rating in a research note on Thursday, January 17th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of €60.95 ($70.87).
Shares of 1COV stock traded up €1.00 ($1.16) during trading hours on Monday, hitting €51.14 ($59.47). The company had a trading volume of 1,318,436 shares, compared to its average volume of 917,794. Covestro has a fifty-two week low of €61.95 ($72.03) and a fifty-two week high of €96.32 ($112.00).
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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