Jefferies ups Salzgitter to 'buy' on EU steel protection, infrastructure spending tailwinds

Salzgitter AG

14/07/2026 07:43

** Jefferies lifts German steel producer Salzgitter SZGG.DE to "buy" from "hold", sees upside from EU steel protection and German infrastructure boom
** With 76% of sales in Europe, the co is well positioned to benefit from tighter EU steel quotas, firmer steel prices and Germany's infrastructure spending from 2027, Jefferies says
** Jefferies sees scope for a further 2026 EBITDA guidance upgrade following April's increase, and forecasts 2027 EBITDA above €1 billion, 18% ahead of consensus
** Shares are up 4.9% in early Frankfurt trade
** Out of 13 analysts that cover Salzgitter, nine rate the stock "strong buy"/"buy," ​four rate it "hold" - LSEG data

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))