UBS Upgrades SALZGITTER AG to 'Neutral'

UBS analysts upgraded

UBS analysts upgraded SALZGITTER AG from 'sell' to 'neutral', saying that the company's recent share price decline has created a more attractive entry point for investors. The analysts said they believe SALZGITTER AG is well-positioned to benefit from the ongoing recovery in the global steel industry, and that the company's recent acquisition of Klöckner & Co will strengthen its position in the European market.

Company highlights

SALZGITTER AG is a leading European steel producer, with a focus on flat steel products. The company has a strong presence in the automotive and construction sectors, and it is also a major supplier to the energy and shipbuilding industries. SALZGITTER AG has a global footprint, with operations in Europe, the Americas, and Asia. The company has a workforce of around 25,000 employees.

Recent performance

SALZGITTER AG's share price has declined by around 20% over the past year, underperforming the broader European steel sector. The decline has been driven by concerns about the impact of the COVID-19 pandemic on the global steel industry. However, UBS analysts believe that the recent decline has created an attractive entry point for investors. The analysts said they believe SALZGITTER AG is well-positioned to benefit from the ongoing recovery in the global steel industry, and that the company's recent acquisition of Klöckner & Co will strengthen its position in the European market.

Outlook

UBS analysts have a 'neutral' rating on SALZGITTER AG, with a target price of €30. The analysts said they believe the company is well-positioned to benefit from the ongoing recovery in the global steel industry, but that the recent share price decline has created a more attractive entry point for investors.