RBC Capital analyst James McGarragle lowered the firm’s price target on Algoma Steel (ASTL) to C$6 from C$8 and keeps a Sector Perform rating on the shares. The company’s Q3 guidance came in below consensus but is neutral to investor sentiment given the recent weakness in the shares, the analyst tells investors in a research note. RBC reduced estimates on expectatoins that extended tariffs will pressure steel volumes through mid-2026.
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