How Good Does Salzgitter (ETR:SZG) Look Now? HSBC Has Just Upgraded The Stock

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Salzgitter (ETR:SZG) Stock Upgrade

Salzgitter (ETR:SZG) was just upgraded by HSBC to a respectable “Buy” rating in an analyst research report sent to clients and investors on 8 December. The firm now has a EUR 30.30 TP on the shares. This target is 36.79% from SZG’s current share price.

From a total of 16 analysts covering Salzgitter (ETR:SZG) stock, 6 rate it a ”Buy”, 5 a “Sell”, and 5 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is €45 while the lowest target price is €21. The mean of all analyst targets is €30.85 with a 39.21% above today’s (€22.16) stock price. Salzgitter was the topic of 43 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Independent Research maintained shares on November 28 with “Hold” rating. S&P Research downgraded shares to “Sell” rating and €22 target share price in a report from a November 13. Kepler Cheuvreux upgraded SZG stock in a recent report from November 26 to “Buy” rating. Commerzbank downgraded the rating on November 7. Commerzbank has a “Reduce” rating and a €21 price target on shares. Finally, DZ-Bank AG downgraded the stock to “Sell” rating in a report issued on a November 14.

The stock decreased 0.27% or EUR 0.06 on December 7, striking EUR 22.16. Approximately 393,237 shares of stock traded hands. Salzgitter AG (ETR:SZG) has declined 30.35% since May 11, 2015 and is downtrending. It has underperformed by 29.27% the S&P500.

 How Good Does Salzgitter (ETR:SZG) Look Now? HSBC Has Just Upgraded The Stock

Salzgitter AG is a Germany-based holding firm for a group of more than 200 domestic and international subsidiaries active in the steel technology industry. The company has a market cap of 1.33 billion EUR. The Firm operates through five divisions. It currently has negative earnings. The Steel division makes flat steel and profiles, plates, sheet piling, components for roofing and cladding, blanks and tailored blanks for a variety of applications.

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