The Globe and Mail reports in its Friday, Nov. 10, edition that National Bank analyst Maxim Sytchev is not letting go of his "sector perform" recommendation for Stelco Holdings. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev boosted his share target by $4 to $47. Analysts on average target the shares at $45.86. Mr. Sytchev says in a note: "HRC [hot rolled coil] ups-and-downs have thrown a number of curve balls over the last several months, and now it's certainly a tailwind. Because we did not have enough conviction to upgrade during the auto strike, today's share price move is commensurate with a better industry body language. We have upped our numbers accordingly but from a risk/reward skew find it's a bit too late to chase the stock at this level." The Globe reported on Feb. 25 and Oct. 11 that Mr. Sytchev had reaffirmed his "sector perform" call on Stelco Holdings. In the second item Mr. Sytchev said, "We remain on the sidelines given Stelco's inherently cyclical exposure at a time of significant macro uncertainty." The shares were then going for $52.54 and $36.78.