The Globe and Mail reports in its Friday, Sept. 29, edition that RBC Capital analyst James McGarragle is maintaining his recommendation for Stelco Holding at "sector perform." The Globe's David Leeder writes column that Mr. McGarragle knocked his share target back by $2 to $41. Analysts on average target the shares at $45.42. Mr. McGarragle says in a note: "We update our Q3 estimates to reflect our updated steel price forecast, recent channel checks, and conversations with management teams at Russel (on September 20th) and Stelco (Wednesday). Overall, our Q3 estimates decrease on lower steel prices. We flag valuation at both companies as well below peers, which we view as unwarranted. Key focus into the quarter at Stelco will be on the pricing outlook and colour on the auto strike and at Russel on potential M&A, which we would view as a meaningful catalyst given in our view declining private market valuations and significant dry powder to execute on deals. [Stelco continues] to trade at a discount to peers, which is unwarranted in our view reflecting solid operational performance. ... Stelco is trading at 3.6 times NTM [next 12-month] consensus EV/EBITDA, versus blast furnace peers [at five times]."