Stifel Canada "Modestly Positive" About Algoma Steel's JV With Roshel
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Algoma Steel Group has formed a joint venture with Roshel, a leading manufacturer of armored vehicles, which is seen as a positive development by Stifel Canada. Analyst Ian Gillies maintains a buy rating with a price target of $11.50, viewing the partnership as a reinforcement of Algoma's role in Canada's defense sector. The joint venture aims to produce ballistic steel solutions domestically, benefiting various industries and potentially allowing exports to allied nations. The stock price rose by 4.08% to $6.38 following the announcement.
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