Salzgitter (ETR:SZG) Rating Reaffirmed
In a note issued to clients and investors on 10 December, The “Neutral” rating of Salzgitter (ETR:SZG) shares was reconfirmed by Macquarie Research, who now has a EUR 26.00 target price on the stock. Macquarie Research’s target price suggests a possible upside of 18.18% from the price per share of the company.
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 €30.15 with a 37.73% above today’s (€21.89) stock price. Salzgitter was the topic of 44 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. HSBC upgraded shares on December 8 to “Buy” rating. S&P Research downgraded shares to “Sell” rating and €22 target share price in a report from a November 13. Credit Suisse maintained SZG stock in a recent report from November 27 with “Neutral” rating. Commerzbank downgraded the rating on November 7. Commerzbank has a “Reduce” rating and a €21 price target on shares. Finally, Landesbank upgraded the stock to “Buy” rating in a report issued on a November 19.
The stock increased 5.32% or EUR 1.1 on December 9, striking EUR 21.89. Approximately 871,440 shares of stock traded hands or 86.75% up from the average. Salzgitter AG (ETR:SZG) has declined 30.35% since May 11, 2015 and is downtrending. It has underperformed by 29.55% the S&P500.
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 1.40 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.