In a report released today, Sebastian Bray from Berenberg Bank maintained a Hold rating on Covestro (0RBE – Research Report), with a price target of €58.00. The company’s shares closed yesterday at €54.82.
According to TipRanks, Bray is an analyst with an average return of -0.5% and a 50.81% success rate. Bray covers the Basic Materials sector, focusing on stocks such as BASF SE, Wacker Chemie AG, and Linde.
Currently, the analyst consensus on Covestro is a Moderate Buy with an average price target of €57.94.
Based on Covestro’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €3.96 billion and a GAAP net loss of €899 million. In comparison, last year the company earned a revenue of €4.34 billion and had a net profit of €302 million
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Covestro (0RBE) Company Description:
Covestro, formerly Bayer Material Science, was spun off from the Bayer Group in 2015. The firm is a market leader in polyurethanes and polycarbonates, products that the company discovered in the mid-20th century. It also has a sizable speciality chemicals business that is focused on coatings and adhesives. Demand for Covestro’s products is driven primarily by cyclical end markets, such as automotive, construction, and furniture.
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