RBC Capital Bumps Up Stelco Price Target

April 14, 2022 10:04 AM | 1 min read | Make a Comment

Stelco Holdings Inc STLC STZHF price target has been raised to C$61 from C$60, by RBC Capital analyst Alexander Jackson.
The analysts maintained the Sector Perform rating on the shares.
The analyst expects a solid quarter for Stelco, albeit down compared to Q4, on lower steel prices and sales volumes.
Jackson adds that HRC (hot-rolled coil) prices were falling through Q1 before rebounding in March on a return of buyers and increased raw material costs.
The analyst believes Stelco exited the quarter with a much fuller order book than it entered.
Price Action: STLC shares traded higher by 1.29% at C$51.91 on TSX on the last check Thursday.