Barclays Reiterates €35.00 Price Target for Salzgitter (SZG)
Salzgitter (ETR:SZG) has been given a €35.00 ($43.21) price objective by analysts at Barclays in a note issued to investors on Monday. The brokerage presently has a “sell” rating on the stock. Barclays’ target price would suggest a potential downside of 24.57% from the stock’s previous close.
Several other brokerages have also recently weighed in on SZG. Morgan Stanley set a €35.00 ($43.21) target price on Salzgitter and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Jefferies Group set a €42.00 ($51.85) target price on Salzgitter and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Warburg Research set a €41.00 ($50.62) target price on Salzgitter and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Deutsche Bank set a €44.00 ($54.32) target price on Salzgitter and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, DZ Bank restated a “neutral” rating on shares of Salzgitter in a report on Tuesday, November 14th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of €44.18 ($54.54).
Salzgitter (SZG) opened at €46.40 ($57.28) on Monday. The firm has a market capitalization of $2,810.00 and a P/E ratio of 18.20. Salzgitter has a twelve month low of €29.74 ($36.72) and a twelve month high of €52.40 ($64.69).
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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