The Globe and Mail reports in its Tuesday, Sept. 19, edition that Stifel analyst Ian Gillies has reaffirmed his "buy" recommendation for Russel Metals. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gillies boosted his share target by a loonie to $45.50. Analysts on average target the shares at $43.06. The Globe says Mr. Gillies thinks it is a "complex" time for steel stocks with near-term performance appearing "biased lower for the well known issues stemming the UAW strike." He thinks it is a an "opportune time to zag against the crowd." He says the strike will end and demand will return. He notes that we might see a "sharp" pickup in demand making up for lost volumes. He calls Russell Metals one of his preferred picks to play this trend. Mr. Gillies says in a note: "We rate Russel Metals as 'buy' given its strong balance sheet and attractive valuation. The company's energy products segment should also see improvements given the recovery being experienced in the North American energy sector. The company's significant cash position should also allow it to execute an active M&A strategy." The Globe reported on July 6, 2022, that Mr. Gillies rated Russel Metals "buy." It was then worth $25.11.