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GER - Salzgitter raised to neutral at UBS

Bloomberg reported that Salzgitter AG was raised to 'neutral' from 'sell' at UBS AG, which said the stock is a relatively safe way to play near term upward momentum. UBS AG said that "Salzgitter admit limited visibility still remains for the second half, but their sales team believes current upward momentum in order levels and also prices will be maintained for the next few months. In our view, this positive momentum and a strong balance sheet are likely to offer near term support to the Salzgitter shares." UBS AG also lifted its earnings per share estimates for this year and 2010.

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