Covestro (OTCMKTS:COVTY) Given New €42.00 Price Target at UBS Group

Covestro (OTCMKTS:COVTYGet Rating) had its target price cut by UBS Group from €43.00 ($44.79) to €42.00 ($43.75) in a report issued on Thursday, The Fly reports.

A number of other equities research analysts have also commented on COVTY. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Covestro from €72.00 ($75.00) to €60.00 ($62.50) in a report on Wednesday, May 4th. Stifel Nicolaus lowered shares of Covestro from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Morgan Stanley lowered their price target on shares of Covestro from €64.00 ($66.67) to €62.00 ($64.58) in a report on Monday, March 28th. Societe Generale lowered their price target on shares of Covestro from €56.00 ($58.33) to €45.00 ($46.88) and set a “hold” rating for the company in a report on Wednesday, May 4th. Finally, Zacks Investment Research lowered shares of Covestro from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Covestro presently has a consensus rating of “Hold” and an average price target of $54.07.

Shares of COVTY traded down $0.79 during mid-day trading on Thursday, reaching $20.71. The company’s stock had a trading volume of 41,058 shares, compared to its average volume of 77,933. The stock has a market cap of $8.00 billion, a PE ratio of 5.34, a P/E/G ratio of 0.21 and a beta of 1.24. The company has a current ratio of 2.13, a quick ratio of 1.30 and a debt-to-equity ratio of 0.32. Covestro has a 52 week low of $19.67 and a 52 week high of $35.85. The company’s fifty day moving average price is $23.50 and its two-hundred day moving average price is $27.69.

Covestro Company Profile (Get Rating)

Covestro AG supplies high-tech polymer materials and related application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.

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