The Globe and Mail reports in its Tuesday, June 3, edition that Stifel analyst Ian Gillies, in response to U.S. President Donald Trump's latest plan to raise tariffs on steel imports, cut his Algoma Steel Group share target to $13 from $14 with an unchanged "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $11.25. Mr. Gillies says in a note: "This event creates a significant negative outcome for Algoma Steel with the critical questions being (1) when and if the Canadian government will provide support to the Canadian steel industry; and (2) how long can Algoma remain solvent with these tariffs in place (mid 2026E in our view assuming no new sources of available liquidity). The stock is now a call/put option on U.S. and Canadian government policy. We are lowering our target price to $13 while retaining our 'buy' rating. This view is predicated on some sort of trade agreement being reached between Canada-U.S. in the next six to nine months, in addition to Algoma Steel receiving some form of government support. We would be buying the stock aggressively on significant weakness."