Capital Market Gives IPSCO Top Rating, Gerdau Ameristeel To Outperform

RBC Capital Markets analyst Marie Millien has initiated coverage of Canadian steel companies, rating IPSCO Inc. (IPS) with a “top pick” rating and a USD $116 per share target price.

She has also initiated coverage of Stelco Inc. [STE:TSX] with an “underperform” rating and CAD$20 target price, Algoma Steel Inc. [AGA:TSX] with an “outperform” rating and CAD$40 target price, and Gerdau Ameristeel Corp. (GNA) with an “outperform” rating and USD $12 target price.