In a report released today, Geoff Haire from UBS maintained a Hold rating on Covestro (0RBE – Research Report), with a price target of €52.00. The company’s shares closed last Friday at €55.46.
Haire covers the Basic Materials sector, focusing on stocks such as Nutrien, Wacker Chemie AG, and Linde. According to TipRanks, Haire has an average return of -2.9% and a 46.73% success rate on recommended stocks.
In addition to UBS, Covestro also received a Hold from Barclays’s Alex Stewart in a report issued on September 6. However, on the same day, Kepler Capital maintained a Buy rating on Covestro (LSE: 0RBE).
0RBE market cap is currently €10.19B and has a P/E ratio of -32.19.
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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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