Eregli Demir ve Çelik Fabrikalari T.A.S. (OTC:ERELY) Upgraded by HSBC to “Buy”

HSBC upgraded shares of Eregli Demir ve Çelik Fabrikalari T.A.S. (OTC:ERELY – Get Rating) from a hold rating to a buy rating in a report released on Thursday, The Fly reports.

Separately, The Goldman Sachs Group cut shares of Eregli Demir ve Çelik Fabrikalari T.A.S. from a neutral rating to a sell rating in a research note on Thursday, December 8th.

Eregli Demir ve Çelik Fabrikalari T.A.S. Price Performance

Shares of OTC:ERELY opened at $10.00 on Thursday. The company has a 50 day moving average of $10.55 and a 200 day moving average of $9.73. Eregli Demir ve Çelik Fabrikalari T.A.S. has a 12 month low of $8.00 and a 12 month high of $13.53.

About Eregli Demir ve Çelik Fabrikalari T.A.S.

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Eregli Demir ve Çelik Fabrikalari T.A.S., together with its subsidiaries, produces and sells iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke, and by-products in Turkey and internationally. Its flat products include hot rolled flat steel products, cold-rolled flat steel products, and galvanized/galvanealed flat steel products; and tin/chrome coated flat steel products used in metal packaging industry.