Stelco (TSE:STLC – Get Free Report) had its target price reduced by analysts at Royal Bank of Canada from C$47.00 to C$43.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.05% from the company’s current price.
STLC has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Stelco from C$50.00 to C$47.00 and set an “overweight” rating for the company in a research report on Tuesday, June 11th. National Bankshares dropped their price target on shares of Stelco from C$54.00 to C$52.00 in a research note on Friday, May 10th. Cormark cut their price objective on shares of Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. BMO Capital Markets lowered their target price on Stelco from C$58.00 to C$55.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. Finally, Stifel Nicolaus cut their price target on Stelco from C$49.00 to C$47.00 in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$49.61.
Check Out Our Latest Analysis on STLC
Stelco Price Performance
About Stelco
Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.
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