Salzgitter AG (OTCMKTS:SZGPY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, October 27th. The brokerage presently has a $5.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 5.84% from the company’s current price.
According to Zacks, “Salzgitter AG is engaged in the production of steel and steel products. Its operating business unit consists of Strip Steel, Plate/Section Steel, Energy, Trading and Technology. Strip Steel unit produces special and branded steels. Plate/Section Steel unit offers heavy plates. Energy unit covers seamless tubes, seam-and spiral-welded large-diameter pipes, stainless steel tubes as well as seamless and welded precision tubes. Trading unit handles sales network and global trading companies and sales offices. Technology unit focuses on machinery and plants for the filling and packaging of beverages. Salzgitter AG is headquartered in Salzgitter, Germany. “
Separately, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Salzgitter AG in a research note on Wednesday, July 19th.
Salzgitter AG (SZGPY) opened at $4.72 on Friday. Salzgitter AG has a 1-year low of $3.22 and a 1-year high of $5.02.
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Salzgitter AG Company Profile
Salzgitter Aktiengesellschaft, through its subsidiaries, engages in steel and technology businesses worldwide. It operates through Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology business units. The Strip Steel business unit manufactures branded and special steels, such as hot-rolled strip steel, cold-rolled steel, sections, tailored blanks, and components for the construction industry.
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