Eight Capital Boosts Stelco (TSE:STLC) Price Target to C$63.85

Stelco (TSE:STLCGet Rating) had its target price upped by Eight Capital to C$63.85 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “na” rating on the stock. Eight Capital’s price objective suggests a potential upside of 51.16% from the company’s previous close.

A number of other research analysts also recently commented on the company. Scotiabank lowered their price objective on Stelco from C$56.00 to C$53.00 in a research note on Monday, May 9th. Royal Bank of Canada increased their price target on Stelco from C$61.00 to C$62.00 and gave the stock a “sector perform” rating in a research note on Monday, May 9th. National Bankshares cut Stelco from an “outperform” rating to a “hold” rating and increased their price target for the stock from C$48.00 to C$55.00 in a research note on Wednesday, March 30th. Cormark increased their price target on Stelco from C$55.50 to C$64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 30th. Finally, BNP Paribas raised Stelco to a “buy” rating and set a C$56.00 price target for the company in a research note on Tuesday, March 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$58.71.

STLC traded down C$0.14 during trading on Thursday, reaching C$42.24. 180,380 shares of the company were exchanged, compared to its average volume of 394,911. The stock has a market cap of C$3.05 billion and a P/E ratio of 1.95. The firm has a 50 day moving average of C$46.16 and a 200 day moving average of C$42.19. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 30.44. Stelco has a 52 week low of C$30.37 and a 52 week high of C$56.99.

About Stelco (Get Rating)

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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