The Globe and Mail reports in its Tuesday, June 11, edition that BMO Capital analyst Katja Jancic rates Algoma Steel Group and Stelco Holdings "outperform." The Globe's David Leeder writes in the Eye On Equities column that Ms. Jancic lowered her share target for Algoma Steel to $14 from $15. Analysts on average target Algoma Steel shares at $14.50. Ms. Jancic cut Stelco Holdings' share target to $55 from $58. Analysts on average target Stelco shares at $52.20. Mr. Jancic says in a note: "With many of the upstream steel producers set to provide their 2Q'24 earnings updates over the next two weeks, or are scheduled to report earnings, we are marking-to-market our 2Q/3Q estimates following a greater-than-expected decline in sheet prices caused by ample supplies (domestic + imports) and what can best be described as a buyers strike in our opinion. Further, with a seasonally slower summer demand period upon us coupled with ample spot availability (i.e., lead times are currently short-to-normal), in our view pricing headwinds for sheet products are likely to persist in the near term; hence, we are reducing our 3Q'24 estimates for most of the sheet-exposed steel producers under coverage."