According to a more skeptical assessment by Jefferies, Covestro’s shares fell significantly on Thursday in the continued recovery of the DAX.
As the weakest DAX stock, they recently lost 0.44 percent to EUR 58.52. The expert Chris Counihan, who is newly responsible for the chemical industry at the investment bank, rated the shares in the plastics group as “Hold” and a target price of 65 euros. So far they had been recommended for “buy” by Jefferies with a target of 75 euros.
Jefferies expert Counihan is well below the corporate targets with its operating profit forecasts. He only sticks to his neutral vote because of the comparatively low rating.
Covestro papers have been looking for a trend for a good six months, fluctuating between EUR 51.38 and around EUR 60. In March they had previously reached the highest level since 2018 at 63.24 euros.
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