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Fly News Breaks for June 10, 2016
CLF
Jun 10, 2016 | 06:43 EDT
As previously reported, Macquarie upgraded Cliffs Natural to Outperform from Neutral and raised its price target to $7.50 from $4. Analyst Anthony Young said earnings and cash flow are set to improve after the rally in domestic steel prices and volumes. Young believes 2017 and 2018 will be better than 2016 and notes the company has transitioned from a broken enterprise to one focused on paying down debt and gaining market share.
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