Covestro (OTCMKTS:COVTY) Price Target Lowered to €50.00 at Deutsche Bank Aktiengesellschaft

Covestro (OTCMKTS:COVTY – Get Rating) had its price target lowered by Deutsche Bank Aktiengesellschaft from €60.00 ($61.86) to €50.00 ($51.55) in a research note published on Tuesday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their price objective on Covestro from €62.00 ($63.92) to €58.50 ($60.31) and set a neutral rating on the stock in a research note on Wednesday, May 4th. Societe Generale decreased their price objective on Covestro from €56.00 ($57.73) to €45.00 ($46.39) and set a hold rating on the stock in a report on Wednesday, May 4th. Credit Suisse Group decreased their price target on Covestro from €53.00 ($54.64) to €40.00 ($41.24) in a research note on Wednesday, July 20th. Stifel Nicolaus lowered Covestro from a buy rating to a hold rating in a research note on Wednesday, April 13th. Finally, UBS Group reduced their price objective on Covestro from €43.00 ($44.33) to €42.00 ($43.30) in a research note on Thursday, May 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $51.07.

Covestro Price Performance

COVTY opened at $17.08 on Tuesday. The stock has a fifty day moving average of $18.90 and a 200-day moving average of $23.28. The firm has a market capitalization of $6.60 billion, a P/E ratio of 3.49, a PEG ratio of 0.22 and a beta of 1.21. Covestro has a 12-month low of $15.64 and a 12-month high of $34.97. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 0.27.

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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