Salzgitter (OTCMKTS:SZGPY – Get Rating) had its target price raised by JPMorgan Chase & Co. from €32.50 ($34.95) to €45.00 ($48.39) in a research report released on Wednesday, The Fly reports. They currently have a neutral rating on the basic materials company’s stock.
SZGPY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Salzgitter from €35.00 ($37.63) to €42.00 ($45.16) in a report on Thursday, March 24th. Credit Suisse Group boosted their price objective on shares of Salzgitter from €20.00 ($21.51) to €33.00 ($35.48) in a report on Tuesday, February 22nd. Morgan Stanley boosted their price objective on shares of Salzgitter from €41.50 ($44.62) to €43.00 ($46.24) in a report on Monday, April 11th. Kepler Capital Markets upgraded shares of Salzgitter from a hold rating to a buy rating and set a €50.00 ($53.76) price target on the stock in a research note on Wednesday, February 16th. Finally, Zacks Investment Research lowered shares of Salzgitter from a buy rating to a hold rating in a research note on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $36.25.
Shares of SZGPY opened at $4.10 on Wednesday. The firm has a market cap of $2.46 billion, a P/E ratio of 4.32 and a beta of 1.13. Salzgitter has a 12-month low of $2.90 and a 12-month high of $5.16. The company’s 50-day moving average price is $4.37 and its 200 day moving average price is $3.77.
Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.
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