The Globe and Mail reports in its Tuesday, April 8, edition that Scotia Capital analyst Orest Wowkodaw has upgraded his recommendation for Champion Iron to "sector outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Wowkodaw gave his share target a 25-cent trim to $5.50. Analysts on average target the shares at $7.30. Mr. Wowkodaw says in a note, "We are upgrading our investment rating on Champion Iron to 'sector outperform' based on an attractive valuation (spot 2025-27 estimated EV/EBITDA of 3.8 times, 2.9 times, and 2.3 times and P/NAV of only 0.49 times), an expected near-term improvement in operating performance at Bloom Lake, a near-term FCF inflection point following the anticipated completion of the DRPF project around YE2025, and a strong balance sheet." He adds: "Although valuations appear relatively attractive at current commodity prices, further downside risks are very possible given the broader risks to global consumption (it's way too early to call a near-term bottom in metal prices based on cost curve support in our view). ... Of course, aggressive potential Chinese domestic stimulus could alter this narrative."