The Globe and Mail reports in its Thursday edition that RBC Capital analyst James McGarragle, in a report previewing the fourth quarter earnings for Canadian steel companies, raised his share target for Russel Metals to $51, up from $47, while maintaining an "outperform" rating. The Globe's David Leeder writes that Mr. McGarragle maintained a share target of $6 and a "sector perform" rating for Algoma Steel Group. Analysts on average target Russel and Algoma shares at $47.72 and $7.88. Mr. McGarragle says in a note: "We update our estimates to reflect our updated steel price forecast. ... On the trade front we continue to anticipate tariff relief through the broader CUSMA process with a potential deal by 2H26, while recent government trade protection measures should help stabilize the Canadian steel market in the near term through import restrictions and 'Buy Canadian' policies. ... For Algoma, we maintain our Q4 EBITDA estimate at a loss of $97-million while improving our 2026 EBITDA forecast to a loss of $104-million from a loss of $123-million due to higher steel price assumptions and better supply dynamics. For Russel, our Q4 EPS estimate holds steady at 49 cents, which trails consensus expectations of 53 cents."