Stelco (TSE:STL) Upgraded to Buy at Stifel Canada

Stelco Holdings Inc. (TSX: STLC) is a North American steel producer that operates in the United States and Canada. The company produces various types of steel products, including flat sheet steel, hot rolled coil, cold rolled coil, and specialty steels.

On August 12, 2021, Stifel Canada upgraded its recommendation on Stelco TSESTL from "Hold" to "Buy." The upgrade was based on the company's strong financial performance, including its ability to generate consistent earnings and cash flows, as well as its favorable market conditions.

Stelco has reported strong financial results in recent quarters. In Q2 2021, the company reported net income of $47 million, compared to a loss of $35 million in the same period last year. The company's revenue also increased by 69% year-over-year to $817 million.

The steel industry has been benefiting from favorable market conditions, including strong demand for steel products and rising commodity prices. These factors have contributed to Stelco's strong financial performance and the upgrade of its recommendation by Stifel Canada.

Overall, the upgrade of Stelco TSESTL to "Buy" at Stifel Canada reflects the company's strong financial position and favorable market conditions.