The Globe and Mail reports in its Wednesday edition that National Bank analyst Maxim Sytchev has reaffirmed his "sector perform" recommendation for Stelco Holdings. The Globe's David Leeder writes that Mr. Sytchev gave his share target a $2 trim to $43. Analysts on average target the shares at $45.08. Mr. Sytchev says in a note: "After experiencing upside at the beginning of 2023, HRC pricing continues to compress downward, hovering around $700/st vs. above $800/st at the end of Q2/23 and an intermittent peak of $1,200 in Q1/23. HRC directionality is all that matters when it comes to calling Stelco shares. The Auto OEM strikes make HRC pricing a headwind for Stelco as revenue is highly levered to auto customers who are anticipated to scale back production till a resolution is reached. Overall, we are not convinced that being long a hyper-cyclical now is the right place to be (even a well executing one). We remain on the sidelines given Stelco's inherently cyclical exposure at a time of significant macro uncertainty." The Globe reported on Feb. 25 that Mr. Sytchev had reaffirmed his "sector perform" call on Stelco Holdings. The shares were then going for $52.54.