HSBC Believes Sandvik AB (Other OTC: SDVKY) Won’t Stop Here

HSBC analyst HSBC upgraded Sandvik AB (SDVKYResearch Report) to Buy yesterday. The company’s shares closed last Friday at $27.08, close to its 52-week high of $28.36.

Sandvik AB has an analyst consensus of Moderate Buy.

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The company has a one-year high of $28.36 and a one-year low of $11.20. Currently, Sandvik AB has an average volume of 11.75K.

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Sandvik AB engages in the development, manufacture, and sale of tools, equipment, and tooling systems for the mining and construction industries. It operates through the following segments: Sandvik Machining Solutions, Sandvik Mining, Sandvik Materials & Rock Technology, and Sandvik Materials Technology. The Sandvik Machining Solutions segment manufactures and sells tools and tooling systems for industrial metal cutting. The Sandvik Mining & Rock Technology segment supplies equipment and tools and provides service and technical solutions for the mining industry. The Sandvik Materials Technology segment produces advanced stainless steels and special alloys such as tube, pipe, wire, strip and metal powder. The company was founded by Göran Fredrik Göransson in 1862 and is headquartered in Stockholm, Sweden.