Salzgitter (SZGPY) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Salzgitter (OTCMKTS:SZGPY) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $6.50 target price 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. “

Salzgitter (SZGPY) traded up $0.28 on Thursday, hitting $6.12. The stock had a trading volume of 300 shares, compared to its average volume of 186. Salzgitter has a 1 year low of $3.59 and a 1 year high of $6.12.

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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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