tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Algoma Steel price target lowered to C$6 from C$8 at RBC Capital

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.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1