Voestalpine Shares Surge as Analysts Reverse Course

Voestalpine AT0000937503

A dramatic shift in sentiment is underway among market experts covering Austrian steel producer Voestalpine. In a rapid succession of moves, major investment banks have upgraded their ratings, signaling renewed confidence in the company’s prospects. UBS moved to a “Buy” recommendation, JPMorgan switched to “Overweight,” and Deutsche Bank raised its price target. This collective optimism emerges despite the challenging market conditions that have characterized the steel sector.

Key Financial Highlights:

• EBITDA reached €722 million (a 0.6% increase despite revenue decline)
• EBIT grew by 2% to €345 million
• Free cash flow significantly exceeded prior-year levels
• Net debt reduced to €1.5 billion
• Full-year forecast confirmed: Read more...