Salzgitter: UBS upgrades stock

(CercleFinance.com) - UBS has upgraded its rating on Salzgitter from "sell" to "neutral," despite cutting its target price from 37 euros to 30.
5 euros, suggesting upside potential of 8% for the share of the German steel maker.

"Risk-reward more balanced now after the share price dropped c40% ytd. Valuation is fair. Steel price downside and elevated consensus estimates still a drag".



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