Stelco Holdings price target raised to C$70 from C$43 at RBC Capital

RBC Capital analyst James McGarragle raised the firm’s price target on Stelco Holdings (STZHF) to C$70 from C$43 and keeps a Sector Perform rating on the shares, after Cleveland Cliffs (CLF) entered into a definitive agreement to buy Stelco at a price of C$70 in cash and stock. The firm added that it feels approval risk for this deal is “low.”