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Stelco Holdings downgraded to Tender from Outperform at National Bank

National Bank analyst Maxim Sytchev downgraded Stelco Holdings (STZHF) to Tender from Outperform with a price target of C$70, up from C$52, after Cleveland Cliffs (CLF) entered into a definitive agreement to buy Stelco at a price of C$70.

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