Salzgitter (OTCMKTS:SZGPY) had its target price decreased by JPMorgan Chase & Co. from €32.00 ($36.36) to €28.50 ($32.39) in a research report released on Friday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.
A number of other analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of Salzgitter from an equal weight rating to an underweight rating in a report on Thursday, December 9th. UBS Group upgraded shares of Salzgitter from a sell rating to a neutral rating in a report on Thursday, November 11th. Finally, Zacks Investment Research cut shares of Salzgitter from a buy rating to a hold rating in a research report on Thursday, October 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $16.13.
Shares of OTCMKTS SZGPY opened at $4.25 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 4.47 and a beta of 1.26. Salzgitter has a 1 year low of $2.50 and a 1 year high of $4.25. The firm’s 50-day moving average is $3.31 and its 200-day moving average is $3.40.
Salzgitter Company Profile
Salzgitter AG engages in the manufacture of steel and technology products. It operates through the following segments: Strip Steel, Plate and Section Steel, Mannesmann,Trading, and Technology. The Strip Steel segment manufactures hot-rolled strip steel and steel sheet, sections, and tailored blanks. The Plate and Section Steel segment produces a broad spectrum of plate products.
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