JPMorgan Chase & Co. Lowers Stelco (TSE:STLC) Price Target to C$73.00

Stelco (TSE:STLCGet Rating) had its target price decreased by stock analysts at JPMorgan Chase & Co. from C$75.00 to C$73.00 in a research note issued to investors on Thursday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target suggests a potential upside of 97.56% from the company’s previous close.

Several other research firms have also issued reports on STLC. Royal Bank of Canada lowered their price target on shares of Stelco from C$62.00 to C$48.00 and set a “sector perform” rating for the company in a report on Thursday, July 14th. Eight Capital reduced their price objective on shares of Stelco from C$63.85 to C$53.70 and set a “buy” rating for the company in a research report on Wednesday, July 27th. BMO Capital Markets reduced their price objective on shares of Stelco from C$71.00 to C$62.00 in a research report on Thursday, May 19th. Stifel Nicolaus began coverage on shares of Stelco in a research report on Wednesday, June 29th. They set a “hold” rating and a C$39.00 price objective for the company. Finally, National Bankshares raised their price objective on shares of Stelco from C$51.00 to C$55.00 in a research report on Wednesday, July 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$54.89.

Stelco Stock Up 2.2 %

Stelco stock opened at C$36.95 on Thursday. The company has a debt-to-equity ratio of 30.44, a quick ratio of 1.27 and a current ratio of 1.86. Stelco has a 52-week low of C$30.20 and a 52-week high of C$56.99. The firm has a 50 day moving average price of C$35.45 and a two-hundred day moving average price of C$40.60. The firm has a market cap of C$2.53 billion and a price-to-earnings ratio of 1.71.

About Stelco

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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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