Salzgitter (OTCMKTS:SZGPY) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Salzgitter (OTCMKTS:SZGPY) from a hold rating to a buy rating in a research note released on Thursday, January 11th. Zacks Investment Research currently has $6.50 target price on the basic materials company’s stock.

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. “

Shares of Salzgitter (SZGPY) remained flat at $$6.17 during midday trading on Thursday. Salzgitter has a twelve month low of $3.59 and a twelve month high of $6.17.

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Salzgitter 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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