MUNICH (dpa-AFX Broker) - Baader Bank has upgraded Covestro by several steps from "reduce" to "buy" and raised the price target from 44.00 to 45.50 euros. Since his downgrade in February, the shares of the plastics group have fallen by around 15 percent due to the cancelled dividend and the gloomy outlook, analyst Markus Mayer explained his investment recommendation in a study published on Tuesday. The valuation is now at an intrinsic value level because Covestro could also become a takeover candidate. The expert mentioned the Austrian oil company OMV as a potential buyer./edh/jha/

Publication of the original study: 21.03.2023 / 15:40 / CET

First disclosure of original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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