Tree Island Steel Ltd. (TSE:TSL) had its price objective dropped by Canaccord Genuity from C$3.75 to C$3.25 in a research note issued to investors on Friday. Canaccord Genuity’s price objective indicates a potential upside of 49.08% from the stock’s previous close.

Separately, Pi Financial decreased their price objective on Tree Island Steel from C$5.00 to C$3.25 in a research report on Friday.

Shares of Tree Island Steel (TSE TSL) traded down C$0.67 on Friday, reaching C$2.18. The company’s stock had a trading volume of 118,560 shares.

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In related news, insider Island Steel Ltd. (Former Tree purchased 65,600 shares of Tree Island Steel stock in a transaction dated Tuesday, September 26th. The shares were acquired at an average cost of C$3.10 per share, for a total transaction of C$203,360.00.

About Tree Island Steel

Tree Island Steel Ltd. manufactures and sells steel wire and wire products for industrial, construction, agricultural, and specialty applications in Canada, the United States, and internationally. It offers residential products, including bulk nails, collated nails, packaged nails and fasteners, bulk screws, and packaged nails and fasteners, as well as nail head identification systems; and woven wires, welded wires, and corners and accessories.

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