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

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

STLC has been the topic of a number of other research reports. Royal Bank of Canada increased their price objective on Stelco from C$61.00 to C$62.00 and gave the company a “sector perform” rating in a report on Monday, May 9th. JPMorgan Chase & Co. raised their target price on Stelco from C$62.00 to C$67.00 in a report on Thursday, April 14th. BNP Paribas raised Stelco to a “buy” rating and set a C$56.00 target price on the stock in a report on Tuesday, March 15th. BMO Capital Markets reduced their price objective on Stelco from C$71.00 to C$62.00 in a research report on Thursday, May 19th. Finally, Cormark raised their price objective on Stelco from C$55.50 to C$64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Stelco has an average rating of “Buy” and an average price target of C$58.71.

Shares of TSE STLC traded down C$0.14 during mid-day trading on Thursday, reaching C$42.24. 180,380 shares of the company traded hands, compared to its average volume of 394,911. The company has a debt-to-equity ratio of 30.44, a quick ratio of 1.27 and a current ratio of 1.86. The stock has a market cap of C$3.05 billion and a PE ratio of 1.95. The company’s fifty day moving average is C$46.16 and its two-hundred day moving average is C$42.19. Stelco has a fifty-two week low of C$30.37 and a fifty-two 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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