Zacks Investment Research Upgrades Salzgitter (SZGPY) to Buy

Salzgitter (OTCMKTS:SZGPY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $6.50 target price on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.30% from the stock’s previous close.

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 (OTCMKTS:SZGPY) remained flat at $$5.84 during mid-day trading on Thursday. Salzgitter has a 12 month low of $3.54 and a 12 month high of $5.84.

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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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