Covestro: stock up on broker comments
(CercleFinance.com) - The Covestro share is up over 3% in Frankfurt, boosted by Credit Suisse comments, which reiterates its "outperform" rating on the share of the German chemical group's stock, having hiked its corresponding target price from 37 euros to 44 euros.
The broker explains that it is raising its EBITDA estimates by an average of around 19% over its forecast period (to 5% above the consensus for 2021), believing that the group "has the greatest positive earnings momentum into FY21F".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker explains that it is raising its EBITDA estimates by an average of around 19% over its forecast period (to 5% above the consensus for 2021), believing that the group "has the greatest positive earnings momentum into FY21F".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.