Salzgitter: in demand after broker comments
(CercleFinance.com) - The share of German steel group Salzgitter is jumping 9% in Frankfurt on Monday, boosted by Credit Suisse's comments, which initiated its coverage of the share with an "outperform" rating and target price set at 17 euros, judging the steelmaker to be "well positioned" for the recovery it expects from 2021 onwards.
The broker points to "operational leverage to the European market, with attractive end-market exposure geared more towards construction, a relatively healthy balance sheet compared with peers, and an undemanding valuation".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker points to "operational leverage to the European market, with attractive end-market exposure geared more towards construction, a relatively healthy balance sheet compared with peers, and an undemanding valuation".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.