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

Zacks Investment Research upgraded shares of Salzgitter (OTCMKTS:SZGPYGet Rating) from a hold rating to a buy rating in a research note released on Wednesday, reports. They currently have $4.75 price target 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. “

SZGPY has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Salzgitter from €32.50 ($34.21) to €45.00 ($47.37) and gave the company a neutral rating in a report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Salzgitter from €35.00 ($36.84) to €42.00 ($44.21) in a report on Thursday, March 24th. Kepler Capital Markets raised shares of Salzgitter from a hold rating to a buy rating and set a €50.00 ($52.63) price objective for the company in a report on Wednesday, February 16th. Credit Suisse Group increased their price objective on shares of Salzgitter from €20.00 ($21.05) to €33.00 ($34.74) in a report on Tuesday, February 22nd. Finally, Morgan Stanley increased their target price on Salzgitter from €41.50 ($43.68) to €43.00 ($45.26) in a research report on Monday, April 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $36.29.

Shares of Salzgitter stock opened at $4.21 on Wednesday. The firm’s 50-day moving average is $4.40 and its 200 day moving average is $3.80. Salzgitter has a 1 year low of $2.90 and a 1 year high of $5.16.

Salzgitter Company Profile (Get Rating)

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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