Salzgitter (ETR:SZG) Stock Upgrade
In an analyst research report announced earlier today, Kepler Cheuvreux raised shares of Salzgitter (ETR:SZG) to a Buy. Analysts currently have a EUR 30.00 target on the shares. Kepler Cheuvreux’s target would indicate a ppossible upside of 41.58% from the previous close of the stock.
From a total of 17 analysts covering Salzgitter (ETR:SZG) stock, 6 rate it a ”Buy”, 5 a “Sell”, and 6 a ”Hold”. This means that 35% 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 €29.89 with a 41.12% above today’s (€21.18) stock price. Salzgitter was the topic of 46 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Berenberg upgraded shares on December 12 to “Buy” rating. Kepler Cheuvreux upgraded shares to “Buy” rating and €30 target share price in a report from a November 26. HSBC upgraded SZG stock in a recent report from December 8 to “Buy” rating. Landesbank upgraded the rating on November 19. Landesbank has a “Buy” rating and a €33 price target on shares. Finally, Credit Suisse maintained the stock with “Neutral” rating in a report issued on a November 27.
The stock increased 2.64% or EUR 0.55 on December 15, striking EUR 21.18. Approximately 505,016 shares of stock traded hands. Salzgitter AG (ETR:SZG) has declined 30.35% since May 11, 2015 and is downtrending. It has underperformed by 26.67% 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 1.27 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.