The Globe and Mail reports in its Wednesday, Dec. 6, edition that National Bank Financial analyst Maxim Sytchev has elevated his recommendation for Russel Metals to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev gave his share target a $3 boost to $45. Analysts on average target the shares at $44.31. Mr. Sytchev says Russel Metals' $225-million deal to acquire seven service centres from Samuel, Son & Co. "noticeably" diversifies its revenue base. He touts its "significant" expansion in the footprint in Western Canada and the United States as well as long-term margin expansion opportunities through synergies. Mr. Sytchev says in a note: "Russel is a well-managed company that historically has timed capital deployment well (as well as exits). While we are not privy to the exact state of the acquired assets, we have full confidence in Russel management doing the right thing by shareholders. Samuel has historically focused on auto OEM clients (market that Russel does not touch), making the deal a net-net positive for both parties. ... For tactically minded investors, buying into likely strong H1/24E would make sense."