Credit Suisse Group Lowers Stelco (OTCMKTS:STZHF) to Neutral

Stelco (OTCMKTS:STZHF) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday, FlyOnTheWall reports.

A number of other analysts have also issued reports on STZHF. BMO Capital Markets decreased their target price on shares of Stelco from C$60.00 to C$55.00 in a research report on Friday, August 11th. Scotiabank decreased their target price on shares of Stelco from C$53.00 to C$42.50 in a research report on Monday, August 14th. Stifel Nicolaus decreased their target price on shares of Stelco from C$46.00 to C$37.00 in a research report on Friday, August 11th. Royal Bank of Canada decreased their target price on shares of Stelco from C$47.00 to C$43.00 in a research report on Friday, August 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Stelco in a research note on Tuesday, May 23rd. They set a “neutral” rating on the stock.

Stelco Trading Up 0.4 %

STZHF stock opened at $27.24 on Friday. The company’s 50 day simple moving average is $31.18 and its 200-day simple moving average is $33.95. Stelco has a 12 month low of $23.85 and a 12 month high of $44.50.

Stelco Company Profile

Stelco Holdings Inc engages in the production and sale of steel products in Canada, the United States, and internationally. It offers flat-rolled value-added steel, including coated, pre-painted, cold-rolled, and hot-rolled sheet products, as well as pig iron and metallurgical coke. The company sells its products to customers in the construction, automotive, energy, appliance, and pipe and tube industries, as well as to various steel service centers.