Covestro has raised its forecast for 2020 again. The company expects an adjusted EBITDA of 1.44 billion euros to 1.5 billion euros, previously it was assumed to be 1.2 billion euros. In 2019, Covestro created 1.604 billion euros. The market expects around 1.2 billion euros in 2020.
The analysts from Independent Research are also more positive after the current forecast and the successes with the corona vaccines. You are forecasting earnings per share of EUR 2.39 for 2020 (old: EUR 1.23). The estimate for 2021 increases from 2.04 euros to 3.35 euros. The expected dividend yield is 2.5 percent in each case.
As before, the experts recommend a hold for Covestro shares. The price target is raised from EUR 44.00 to EUR 50.00.
The analysts at Deutsche Bank give a buy recommendation for Covestro shares. The price target increases from EUR 57.00 to EUR 63.00.
The Covestro share gained 4.6 percent in the afternoon to 49.64 euros.