UBS ups Salzgitter to 'buy' on high exposure to rising EU steel prices

Salzgitter AG

08/12/2025 11:31

** UBS raises German steelmaker Salzgitter SZGG.DE to "buy" from "neutral", citing high exposure to rising EU steel prices

** "EU quota cuts should materially lift EU steel spreads and SZG is the highest beta exposure to that theme", UBS says

** Besides, the company has a restructuring potential if it spins off non-core assets

** Another positive is a big rise in broker's PT on Aurubis NAFG.DE, where Salzgitter owns about 30%

** The stock is up 6%

** Out of 12 analysts that cover Salzgitter, four rate the stock "strong buy"/"buy", five "hold" and three "sell" - LSEG data

 (Reporting by Amir Orusov)

 ((Amir.orusov@thomsonreuters.com))