The Globe and Mail reports in its Friday, March 14, edition that Stifel analyst Ian Gillies has reaffirmed his "buy" recommendation for Algoma Steel Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gillies slashed his share target by $5.75 to $15.25. Analysts on average target the shares at $19.58. Mr. Gillies says in a note: "We believe an investor is going to view Algoma through one of two ways: (1) tariffs will be temporary and the stock is a buy given the medium-term EBITDA potential of $426-million which suggest a valuation of 3.2 times EV/EBITDA; or (2) the duration of tariffs is uncertain and if they last a number of years there could be liquidity risk. We lean toward the first option, and discount the second view because we believe a Canadian government put option will appear if necessary. We continue to use run-rate EBITDA of $426-million to set our target price, but have lowered our target multiple to five times EV/EBITDA from six times given ongoing geopolitical risks. We are lowering our target price to $15.25 from $21.00. We will be quick to reverse course on our target multiple if and when geopolitical risks subside."