JPMorgan Chase & Co. Trims Stelco (STLC) Target Price to C$36.00

Stelco (TSE:STLC) had its target price cut by JPMorgan Chase & Co. from C$45.00 to C$36.00 in a research note released on Thursday morning.

A number of other brokerages also recently weighed in on STLC. National Bank Financial lowered their price target on Stelco from C$34.50 to C$34.00 and set an outperform rating on the stock in a research report on Monday, November 12th. CSFB reduced their price objective on Stelco from C$26.00 to C$21.00 in a report on Tuesday, January 8th. Finally, Goldman Sachs Group cut Stelco from a buy rating to a neutral rating and reduced their price objective for the stock from C$27.00 to C$20.00 in a report on Monday, January 14th.

TSE STLC traded up C$0.21 during trading on Thursday, reaching C$18.60. 40,830 shares of the company’s stock were exchanged, compared to its average volume of 183,705. The company has a market cap of $1.47 billion and a PE ratio of 0.84. The company has a quick ratio of 1.14, a current ratio of 2.21 and a debt-to-equity ratio of 34.34. Stelco has a fifty-two week low of C$13.60 and a fifty-two week high of C$28.00.

About Stelco

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.

Further Reading: Market Capitalization

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