RBC Capital initiated coverage of Algoma Steel (ASTL) with a Sector Perform rating and C$8 price target The analyst expects tariffs to meaningfully weigh on the company’s near-term profitability, reflecting RBC’s view that Canadian steel producers will sell steel into the U.S. at a 25% discount versus U.S. benchmark prices.
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Read More on ASTL:
- Algoma Steel Group Sets Date for Annual Shareholder Meeting
- Canadian Metal Workers Are Caught in the Trade War Crossfire
- Algoma Steel price target lowered to C$15 from C$18 at BMO Capital
- Algoma Steel price target lowered to C$15.25 from C$21 at Stifel
- Algoma Steel Group’s Earnings and Strategic Focus
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