Covestro AG : Home-made limitations and demand weakness weigh, almost zero FCF and dividend potential in 2023 at elevated trading valuation – stay Neutral
>Demand weakness, market destocking and home-made production issues weigh on volume recovery potential; no pronounced China recovery visible yet - Flat volume outlook baked into Covestro’s € 1bn marked-to-market (M2M) assessment for 2023 based on January-spreads includes particular weak demand in Europe, not yet visible more sustained recovery in China and currently flat/slightly down activities in the US. Production issues are still ongoing at German sites with the D...Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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