Kobe Steel, Ltd. (NASDAQ:KBSTY) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Kobe Steel, Ltd. (NASDAQ:KBSTY) from a hold rating to a buy rating in a research report sent to investors on Saturday, September 9th. They currently have $6.75 target price on the stock.

According to Zacks, “Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The company offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others. The Machinery segment manufactures and sells various energy, chemical and nuclear power-related equipment. The Engineering segment conducts engineering works and provides new transportation systems. The Kobelco Eco-Solutions provides water treatment plants, chemical and food-related equipment. The Kobelco Construction Machinery segment offers hydraulic and mini excavators. The Kobelco Crane segment provides crawler cranes and rough terrain cranes. The others segment develops and leases real estate. “

Kobe Steel (NASDAQ KBSTY) remained flat at $5.92 during mid-day trading on Friday. 150 shares of the company’s stock were exchanged. The stock has a market capitalization of $4.29 billion and a PE ratio of 116.08. The firm has a 50 day moving average of $6.00 and a 200-day moving average of $5.10. Kobe Steel has a one year low of $3.97 and a one year high of $6.27.

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About Kobe Steel

Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The Welding segment offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others.

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