Zacks Investment Research upgraded shares of USINAS SIDERURG/S (OTCMKTS:USNZY) from a sell rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports. Zacks Investment Research currently has $2.50 target price on the basic materials company’s stock.
According to Zacks, “The USIMINAS SYSTEMS is Latin America’s biggest flat steel complex and it ranks among the world’s largest twenty steel producers. Usiminas is the System’s leader company, a conglomerate made up of companies that operate in the steel industry and businesses in which steel plays a strategic role. With a solid organizational culture and deeply committed to the stockholders and the society, the company is in a constant search for operating excellence, long-term vision and corporate responsibility. Presently, Usiminas leads a pool of companies and it has a strong focus on transparency in its relations with the capital market. “
Other research analysts have also issued reports about the company. Morgan Stanley lowered USINAS SIDERURG/S from an overweight rating to a hold rating in a report on Tuesday, June 11th. ValuEngine upgraded USINAS SIDERURG/S from a sell rating to a hold rating in a report on Wednesday, May 29th. Goldman Sachs Group lowered USINAS SIDERURG/S from a buy rating to a neutral rating in a report on Wednesday, June 19th. Finally, JPMorgan Chase & Co. lowered USINAS SIDERURG/S from an overweight rating to a neutral rating in a report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average target price of $2.50.
OTCMKTS:USNZY opened at $2.21 on Friday. The company has a fifty day moving average of $2.10. USINAS SIDERURG/S has a 12-month low of $1.66 and a 12-month high of $2.92.
About USINAS SIDERURG/S
Usinas Siderúrgicas de Minas Gerais SA manufactures and markets flat steel products in Brazil and internationally. The company's products include heavy plates, sincron, hot and cold rolled products, laser welded assemblies, slits/rolls, blanks, and hot-dip galvanized and electrogalvanized coils and sheets.
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