Salzgitter (OTCMKTS:SZGPY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $5.75 target price on the basic materials company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.36% from the stock’s current price.

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) opened at $5.21 on Friday. Salzgitter has a fifty-two week low of $3.44 and a fifty-two week high of $5.21.

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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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