voestalpine: UBS no longer a seller
(CercleFinance.com) - UBS has upgraded Austrian specialty steel and car parts maker voestalpine from "sell" to "neutral," maintaining its target price of 42 euros, saying that fiscal year 2017/2018 ended on a "high note.
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UBS says volume improvements in the steel business were the main contributor to the group's strong fourth-quarter results.
However, UBS notes that the group's outlook is somewhat "mixed," due to furnaces re-lining and "economic uncertainties."
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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.
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UBS says volume improvements in the steel business were the main contributor to the group's strong fourth-quarter results.
However, UBS notes that the group's outlook is somewhat "mixed," due to furnaces re-lining and "economic uncertainties."
Copyright (c) 2018 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.