Schaeffler (OTCMKTS:SCFLF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $23.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.58% from the company’s current price.

According to Zacks, “Schaeffler AG engages as a supplier to the automotive and industrial sectors. It provides rolling bearing and plain bearing solutions and linear and direct drive technology. The company’s operating segment consists of Automotive and Industrial segments. Automotive segment provides product and service business with customers in the automotive sector. Industrial segment offers product and service business with manufacturers of investment goods. Schaeffler AG is headquartered in Herzogenaurach, Germany. “

Schaeffler (OTCMKTS SCFLF) opened at $20.25 on Friday. Schaeffler has a 12 month low of $15.85 and a 12 month high of $20.25.

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About Schaeffler

Schaeffler AG manufactures and sells precision components and systems for automotive and industrial industries in Germany and internationally. Its Automotive segment offers components and systems for engines, such as rolling bearing solutions, products for belt and chain drives, valve train components, and systems for variable valve trains; transmissions, including torsion and vibration dampers, clutches and double clutch systems, torque converters, CVT components, bearing solutions, and synchronizing and gearshift components; and chassis components comprising wheel bearings, bearing solutions, steering components, electromechanical actuators for roll stabilizers, and power-assisted steering systems.

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